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Yields on term deposits decline sharply on surprise easing move

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) dropped on Wednesday following the central bank’s surprise rate cut last week.

BSP approves new ‘dirty money’ risk assessment system

A NEW SYSTEM for assessing “dirty money” and terrorism financing risks in financial institutions has been approved by the Bangko Sentral ng Pilipinas (BSP).

BSP lays out proposed liquidity management rules for Islamic banks

THE BANGKO SENTRAL ng Pilipinas (BSP) has released proposed guidelines for the management of liquidity risks by Islamic banks and banking units for Shariah-compliant instruments.

BSP likely to keep dovish stance

THE Philippine central bank would probably remain dovish and might cut benchmark interest rates again next month and in the next quarter as the recovery outlook remains uncertain, analysts said.

BSP cuts policy rate to record low

THE Bangko Sentral ng Pilipinas (BSP) unexpectedly cut benchmark rates to new record lows on Thursday, the fifth reduction this year, citing the continued uncertainty caused by a fresh surge in coronavirus cases globally and the impact of recent typhoons on the struggling economy.

Banks resilient, have enough buffers vs shocks, says Diokno

BANKS CONTINUE to be armed by strong buffers as defense versus the impact of the coronavirus pandemic on their asset quality, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

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.

HSBC sees further quarantine easing as trigger for rate cut

THE CENTRAL BANK will likely observe a pause in its rate easing with liquidity ample, but it could be keeping another reduction in reserve to boost growth pending a further easing in the quarantine sometime next year, HSBC (Hongkong and Shanghai Banking Corp. Ltd.) said.

BSP works with Singapore’s central bank to promote data connectivity

THE BANGKO SENTRAL ng Pilipinas (BSP) is working with Singapore’s central bank to promote data connectivity among financial institutions to beef up the management of risks related to money laundering, terrorism financing and cyberattacks.

BSP to pause rate cuts for now — poll

BENCHMARK policy rates will likely be maintained by the Bangko Sentral ng Pilipinas (BSP) on Thursday, with the financial system seeing excess liquidity and an anticipated pickup in state spending, according to analysts.

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.

Rediscount window untapped in October

LENDERS did not tap the central bank’s rediscount facility in October amid sustained liquidity in the financial system.

BSP weighing scaled-back relief measures as economy recovers

THE Bangko Sentral ng Pilipinas (BSP) said it is evaluating the timing of moves to wind down its stimulus program as the economy recovers, in order to avoid any negative effects from policy action taken during the height of the crisis, such as the persistence of low interest rates.

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.

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 backs easing data connectivity restrictions for financial inclusion 

THE CENTRAL BANK is backing legislative measures that seek to narrow the digital divide in the country to push financial inclusion in rural areas, said Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno.

Lenders expect tighter lending standards in fourth quarter

MOST BANKS remained strict in their loan standards during the third quarter, with many expected to further tighten lending criteria in the fourth quarter as the pandemic drags on, according to a survey by the Bangko Sentral ng Pilipinas (BSP).

Inclusion goals within reach as virus pushes e-payments shift

THE CENTRAL BANK’S financial inclusion and digitalization goals are likely to be met within the term of Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno as more Filipinos shift to online transactions amid the coronavirus pandemic.

BSP outlines offsite process for verifying rediscount loans

THE BANGKO SENTRAL ng Pilipinas (BSP) will require banks to submit collateral documents online for the verification of rediscount loans availed by lenders as the coronavirus pandemic continues.

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 cites surge in online payment accounts for easy access to...

MILLIONS OF new accounts have been opened with financial institutions to facilitate the receipt of government aid, mainly the Social Amelioration Program (SAP), but also to enable users to make digital payments and access credit during the pandemic, the central bank said.

Inflation seen settling near lower end of BSP goal

HEADLINE INFLATION this year could be lower than expected as risks remain tilted towards the downside amid the ongoing pandemic, a senior central bank official said.

Forex reserves surpass $100B in September

THE COUNTRY’S gross international reserves (GIR) reached a new record, breaching the $100-billion level as of end-September, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Thursday.

BSP sees bigger BoP surplus this year

THE Bangko Sentral ng Pilipinas (BSP) said it expects a larger balance of payments (BoP) surplus this year, with the current account seen to post a $6-billion surplus as the economy gradually recovers from the coronavirus crisis.

Term deposits fetch mixed rates as gov’t favors local borrowings

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) were mixed on Wednesday as the country’s Finance chief said the government is looking to borrow more from the domestic market next year.

MSME loans counted as alternate reserve compliance reach P80B

THRIFT LENDERS have disbursed P80 billion in loans to micro-, small-, and medium-sized enterprises (MSMEs) that qualify as alternate reserve requirement compliance, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Tuesday.

Rediscount loans rise

BANKS AVAILED of the central bank’s rediscount window for the second consecutive month in September, likely due to two weeks of a stricter lockdown in Metro Manila which may have caused a slowdown in business activity.

BSP hopes to issue digital banking framework this year

THE CENTRAL BANK is looking to release its digital banking policy framework this year to provide guidance to financial institutions targeting to provide such services.

TDF yields inch higher as BSP keeps rates steady

YIELDS ON term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) inched higher on Wednesday following its decision to keep benchmark interest rates steady last week.

BSP likely to keep policy rates steady until year’s end —...

THE central bank is likely to continue with its pause in easing rates until at least the end of 2020, with headline inflation not expected to dip below the benchmark interest rate of 2.25%, according to a Bank of the Philippine Islands (BPI) economist.

Banks fail to hit MSME credit quota in 1st quarter

BIG AND THRIFT banks did not meet the required lending for small businesses in the first quarter, data from the Bangko Sentral ng Pilipinas (BSP) showed.

Central bank keeps key rate at record low

THE Bangko Sentral ng Pilipinas (BSP) on Thursday left its key interest rate unchanged for a second straight meeting, citing easing inflation and ample liquidity in the financial system.

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.

Inflation likely settled at 1.8-2.6% in Sept. — BSP

HEADLINE INFLATION in September likely settled between 1.8% and 2.6% due to the lower prices of basic goods and the continued appreciation of the peso, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Wednesday.

Next BSP rate cut seen by 2021

THE CENTRAL BANK will likely resume easing by the first quarter of 2021, which could help boost bank lending as borrowers are still worried amid uncertainties due to the coronavirus pandemic, Hongkong and Shanghai Banking Corp. (HSBC) Global Research said.

BSP sets rules for debt moratorium

THE MANDATORY debt moratorium will be applicable to multiple existing, current, and outstanding loans by individuals and entities to give relief to borrowers amid the coronavirus crisis.

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 sets cap on credit card charges

THE central bank approved an annual interest rate ceiling of 24% for all credit card transactions starting Nov. 3.

Consumer confidence plummets to record low

CONFIDENCE among Filipino consumers fell to a record low in the third quarter, while businesses were at their most pessimistic in over 11 years, as the pandemic took its toll on the economy, the latest surveys by the Bangko Sentral ng Pilipinas (BSP) showed.

Term deposit yields inch higher on wider August budget deficit

YIELDS ON term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) mostly inched up on Wednesday following the release of data showing a budget deficit in August.

BSP allows UITF distribution via third parties

TRUST CORPORATIONS will now be allowed to sell unit investment trust funds (UITFs) through individual and institutional agents to level their playing field with banks that have broad distribution networks, the central bank said.

BSP may remain accommodative for at least two years

THE central bank may maintain the low interest rate environment in the next two years to provide support to the economy amid uncertainty caused by the coronavirus disease 2019 (COVID-19) pandemic.

BSP says liquidity support hit P1.4T

THE Philippine central bank has  infused P1.4 trillion into the financial system as part of measures to support the economy amid the coronavirus crisis, Governor Benjamin E. Diokno said.

Yields on BSP’s term deposits inch down ahead of bond offer

YIELDS ON term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) mostly fell on Wednesday ahead of the central bank’s maiden offering of securities on Friday.

BSP can lend more to gov’t under Bayanihan II

THE Bangko Sentral ng Pilipinas (BSP) is now allowed to lend more to the Treasury to boost its coffers for the coronavirus pandemic response under the newly signed Bayanihan to Recover as One (Bayanihan II) law.