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Lenders use nearly P45B in MSME loans as alternative reserve compliance

MORE than 100 banks have utilized their loans to small businesses and large enterprises as alternative reserve compliance during the pandemic, according to Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno.

BoP surplus widens in May

THE country’s balance of payments (BoP) saw a bigger surplus in May on the back of the National Government’s foreign borrowings and a narrower merchandise trade deficit.

Central bank plans maiden securities offer within 3rd quarter

THE Bangko Sentral ng Pilipinas (BSP) is planning to conduct its maiden securities issuance within the third quarter.

TDF yields drop on BSP’s policy easing

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) dropped on Wednesday as the central bank resumed offering the longest 28-day tenor and following the rate cut last week.

BSP okays payment system oversight rules

THE CENTRAL BANK will exercise cooperative oversight with other regulators for activities and interlinkages between payment systems and other financial market infrastructures.

Another rate cut still on the table — analysts

THE surprise policy rate reduction from the central bank may not be the last, as it takes an aggressive and accommodative stance while waiting for the fiscal stimulus measures to catch up, according to analysts.

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.

Record forex buffer in May boosted by gov’t bond sale

THE country’s dollar reserves reached a new record high in May, getting a boost from the government’s global bond issuance to beef up its war chest for the fight against the coronavirus pandemic.

Term deposit yields dip ahead of BSP’s policy-setting meeting

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) dipped as the market awaits the decision of the Monetary Board’s policy-setting meeting this Thursday.

BSP tells banks to ramp up consumer protection

THE BANGKO SENTRAL ng Pilipinas (BSP) urged financial institutions to beef up their safeguards against scammers amid complaints on reported scams and fraudsters.

BSP likely to keep rates steady — poll

THE Bangko Sentral ng Pilipinas (BSP) will likely keep benchmark rates untouched at its review this week, although some economists are pricing in another easing in the latter part of 2020 when the extent of the pandemic’s economic impact becomes clearer.

Wirecard’s $2.1B did not enter PHL — BSP

THE $2.1 billion missing from German payment company Wirecard AG did not enter the country’s financial system, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Sunday.

Extreme weather linked to weaker deposit growth, loan quality

EXTREME weather episodes tend to erode banks’ deposit growth, loan quality, and profitability, the Bangko Sentral ng Pilipinas (BSP) said, citing the results of a study.

Growth of non-banks’ domestic claims eases in Q4

DOMESTIC CLAIMS of non-banks in the last quarter of the 2019 grew at a slower pace, the Bangko Sentral ng Pilipinas (BSP) said.

TDF yields dip as demand soars

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) dipped anew amid higher bids as liquidity improved.

BSP looking into bank’s alleged violation of DOSRI rules

THE Bangko Sentral ng Pilipinas (BSP) is looking into a lender’s alleged violation of rules on lending to related parties, BSP Governor Benjamin E. Diokno said.

BSP’s rediscount facility left untapped in May

LENDERS LEFT the central bank’s rediscount facility untouched in May, signaling liquidity levels have increased after the implementation of measures meant to funnel more funds into the financial system.

BSP to gradually normalize monetary operations

THE BANGKO SENTRAL ng Pilipinas (BSP) will gradually resume offering term deposits with longer maturities and will bring back its P200-billion offerings under the reverse repurchase (RRP) facility as liquidity improves.

BSP to keep rates steady on risks

BENCHMARK interest rates are likely to remain steady even as inflation continues to ease as the central bank wants to be ready in case of a worse fallout from the coronavirus crisis, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

Shuttered economy caused record-high unemployment — Diokno

THE record-high unemployment rate does not show the real picture of the economy and the job market, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said.

BSP boosting cybersecurity measures as online transactions grow

THE central bank is working to strengthen cybersecurity measures through regulations, cyber surveillance and collaboration with other government agencies to protect consumers in an era of increasing digital payments.

BSP to extend alternate reserve compliance until 2022

THE CENTRAL BANK will extend banks’ alternative reserve compliance until 2022 in a bid to support the financial system and struggling sectors due to the coronavirus pandemic.

BSP to count loans to large firms as reserves

THE CENTRAL BANK will count credit extended to large enterprises as part of banks’ and quasi-banks’ compliance with their reserve requirements to support businesses hardest hit by the pandemic.

Dollar reserves seen reaching $94 billion this year

THE COUNTRY’S dollar reserves are expected to rise to a record $94 billion by the end of the year as the country grapples with the coronavirus pandemic, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.

Yields on seven-day term deposits inch lower

YIELDS ON the central bank’s term deposit facility (TDF) slipped on the back of higher bids as well as the slight recovery in oil prices.

Diokno says policy remains appropriate

THE CURRENT policy stance of the Bangko Sentral ng Pilipinas (BSP) will remain appropriate once the modified enhanced community quarantine (MECQ) is transitioned to a general community quarantine (GCQ), according to BSP Governor Benjamin E. Diokno.

Central bank may still ease policy amid coronavirus — Diokno

THE Philippine central bank can still use monetary tools including further policy easing to boost liquidity amid a coronavirus pandemic, its governor said on Friday.

AMC law useful if banks encounter worst-case NPL scenario — Diokno

A BILL PROPOSING the transfer of banks’ bad loans to asset management companies (AMCs) will come in handy should the financial sector’s position deteriorate further, but for now non-performing loan (NPL) levels remain low, the central bank said.

BSP chief sees no need to tap IMF facility amid crisis

THE PHILIPPINES does not need to tap International Monetary Fund’s (IMF) credit line for economies affected by the pandemic, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said, citing the country’s sound economic management which put it at a “position of strength” before the coronavirus disease 2019 (COVID-19) hit.

Debt payments held under modified lockdown

THE grace period for loan payments to financial institutions is further extended as some areas of the country continue to be under modified enhanced community quarantine (MECQ), the Bangko Sentral ng Pilipinas (BSP) said.

Term deposit rates slip

YIELDS ON the central bank’s term deposit facility (TDF) slipped after fresh signals from the central bank of a “prudent pause” in monetary easing.

BSP warns on money laundering risks

FINANCIAL INSTITUTIONS under the watch of the Bangko Sentral ng Pilipinas (BSP) need to submit reports on transactions that were done with banks in North Korea and Iran due to risks of money laundering (ML) and terrorism financing (TF) schemes.

Bank lending expands faster in March on rise in production loans

OUTSTANDING LOANS disbursed by universal and commercial banks rose by 12.9% in March, faster than the downward-revised 12% pace in February, according to data from the Bangko Sentral ng Pilipinas (BSP).

BSP eases asset cover norms for foreign currency loans

THE central bank said the rules easing the standards for asset cover on foreign currency liabilities will allow a two-week compliance period to bring coverage back to 100%

Yields on seven-day term deposits slip further

YIELDS ON the central bank’s term deposit facility (TDF) continued to slip amid higher bids and after slower inflation in April.

BSP lets UITFs go beyond 15% exposure limit

THE BANGKO SENTRAL ng Pilipinas (BSP) will let trust entities (TEs) — specifically unit investment trust funds (UITFs) — go beyond their exposure limit given the operational difficulties caused by the pandemic.

Liquidity growth slows in February amid outbreak

MONEY SUPPLY growth in February slowed, with markets already factoring in the possible impact of the coronavirus disease 2019 (COVID-19) on the economy.

Inflation to ease on lower oil prices, slow global growth

INFLATION in the coming quarters could ease further due to the downside risks from the impact of the coronavirus disease 2019 (COVID-19) on oil prices and slower global growth, according to the Bangko Sentral ng Pilipinas (BSP).

Banks keep lending standards unchanged in Q1

MOST BANKS kept their lending criteria for businesses and households unchanged in the first quarter, according to the Bangko Sentral ng Pilipinas (BSP).

Yields on seven-day term deposits drop as banks get liquidity boost

YIELDS on the central bank’s term deposit facility (TDF) continued to drop amid rising demand, with banks parking some of their funds in the instruments after additional liquidity was infused into the system due to the reduction in the reserve requirement ratio (RRR) of big banks.

E-payments pushed amid lockdown

THE CENTRAL BANK is urging consumers to shift to e-payments amid the current enhanced community quarantine (ECQ) to prevent further spread of the coronavirus disease 2019 (COVID-19).

Bank lending picks up in February

BANK LENDING in February grew quicker as easing moves by the central bank in 2019 were felt in the financial system.

Filipinos less upbeat about Q2, next 12 months — BSP

FILIPINO consumers were less upbeat about this quarter and the rest of the year, citing worries about lower income amid a novel coronavirus pandemic, according to the Philippine central bank’s latest consumer expectation survey.

BSP cuts policy rate to record low

THE BANGKO SENTRAL ng Pilipinas (BSP) fired off another 50-basis-point (bp) cut in policy rates in an off-cycle meeting to bring borrowing costs to record lows in a bid to boost lending to support the economy in the middle of the coronavirus disease 2019 (COVID-19) crisis.

Yields on seven-day deposits drop as BSP reopens facility

YIELDS on the central bank’s term deposit facility (TDF) dropped as the auction resumed after a month, amid signals of another rate cut and liquidity boost through a reduction in banks’ reserve requirement ratio (RRR) to cushion the economy from the pandemic’s impact.