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December cash remittances at record high, but 2018 growth slowest on...

CASH sent home by overseas Filipino workers (OFW) surged to an all-time high in December and clocked in full-year growth that outpaced the central bank’s growth forecast even as it was the slowest annual increase on record, according to the data which the Bangko Sentral ng Pilipinas (BSP) released on Friday.

Yields on term deposits inch up

APPETITE FOR term deposits picked up this week, pushing yields slightly higher as banks sought bigger returns for their excess cash.

Rediscount loans hit P14.5B in January

BANKS TAPPED the rediscount window of the Bangko Sentral ng Pilipinas (BSP) as the year opened, with the extra cash meant to support import payments and capital spending.

Comelec delivers election source code to BSP

THE Commission on Elections (Comelec) announced that the source code to be used in the automated elections in May was deposited in escrow at the Bangko Sentral ng Pilipinas (BSP) on Friday.

BSP seen keeping rates steady

THE CENTRAL BANK has enough room to keep interest rates steady over the next few months, global banks said in separate reports, noting that attention has shifted to market liquidity now that inflation has slowed.

TDF yields mixed ahead of BSP review

BANKS grew more comfortable about betting on term deposits this week, particularly the one-week tenor, ahead of the central bank’s policy meeting today.

Central bank to set standard for payments via QR code by...

THE CENTRAL BANK is looking to set a standard for quick response (QR) code payments by June, with the regulator eyeing two options for the new e-payment platform.

BSP removes higher branch fee for cities

THE CENTRAL BANK has removed higher licensing fees for banks to open new branches within cities in Metro Manila, alongside stringent requirements for granting bank licenses to simplify rules for bank expansions.

More banks open branch-lite units

THE Bangko Sentral ng Pilipinas (BSP) saw lenders put up smaller branches last year, as it hopes improvements in financial inclusion will be achieved with recent regulations that boost account ownership and digital payments.

Analysts expect Bangko Sentral to cut reserve requirement ratio

More market watchers are growing certain that the Bangko Sentral ng Pilipinas (BSP) will kick off the year with cuts to bank reserves prior to any policy rate adjustments.

Demand for term deposits drops ahead of BSP’s policy meeting

APPETITE FOR term deposits waned yesterday, driving yields up across the board ahead of the central bank’s rate-setting meeting next Thursday.

More bank offices built in towns, cities in 2018

MORE TOWNS in the Philippines had bank offices in 2018, with the central bank seeing further room to widen financial access through basic deposit accounts.

Yields on 7-day deposits drop as demand surges

BANKS FAVORED week-long term deposits this week, resulting in a sustained decline in yields for these papers despite an uptrend seen for longer tenors.

BSP revises capital calculation method for banks

THE BANGKO Sentral ng Pilipinas (BSP) said it has modified the calculation method for capital held by banks to better reflect holdings of higher-quality instruments.

Yields on term deposits decline as liquidity continues to improve

YIELDS on term deposits fell across the board yesterday, mirroring a downtrend in bond yields as liquidity improved in the market.

SpeedyPay secures e-money issuer license from BSP

SPEEDYPAY, Inc. has received a license to operate as an e-money issuer (EMI) in the Philippines.

BSP downplays effect of Hanjin default on banking industry

LOCAL banks’ exposure to embattled firm Hanjin Heavy Industries and Construction Philippines (HHIC-Philippines) is “negligible,” a senior central bank official said, noting that local lenders are well-placed to weather these loan defaults.

Rediscount borrowings surge on funding needs

MORE BANKS turned to the central bank to avail of short-term loans in 2018, with the figure surging compared to a year ago due to higher funding needs for investments.

Demand for BSP’s term deposits rebounds

DEMAND FOR term deposits recovered yesterday across all tenors, showing improved liquidity after some tightness observed during the holiday season.

BSP sets rules on loan limits for NSSLAs

THE CENTRAL BANK published new rules to streamline the process of computing loan limits for non-stock savings and loans associations (NSSLAs) to better manage credit risks.

BSP’s Espenilla goes on medical leave again

BANGKO Sentral ng Pilipinas Governor Nestor A. Espenilla, Jr. will be on leave for more than two weeks to seek medical treatment overseas.

BSP trims term deposit auction volume to P30B

THE CENTRAL BANK has slashed the amount of term deposits it will auction off this week to the lowest level in over two years due to weaker demand from banks just before the holiday season wraps up.

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Demand for term deposits drops

DEMAND for term deposits thinned this week, with the Bangko Sentral ng Pilipinas (BSP) even rejecting some offers as banks asked for higher yields than usual.

Thrift banks’ bad loans expand at end-October

SOURED DEBTS held by thrift banks continued to climb in October, latest central bank data showed, with reserves for possible losses enough to cover just half the amount.

Bangko Sentral income surges to P48.33 billion in first 10 months

THE CENTRAL BANK saw its net income rise fourfold as of October, driven by huge gains from foreign exchange at a time of a weaker peso.

Bids for term deposits decline ahead of holidays

BIDS FOR term deposits plunged this week, as banks chose to hold more cash ahead of the holidays.

Wider trade gap seen in 2018, 2019 — BSP

THE central bank expects external trade to balloon to a wider deficit this year and in 2019 as imports are seen to surge faster and as global growth tapers off.

Economists see RRR cuts as inflation eases

THE CENTRAL BANK may now proceed with planned cuts in bank reserves next year as inflation is sure to go down, bank analysts said.

Demand for term deposits surges

DEMAND FOR term deposits soared this week, with players crowding the one-week tenor ahead of the central bank’s rate-setting meeting.

BSP likely to hold fire on rates — Fitch

THE central bank will likely keep rates steady this week but may still push on with fresh rate hikes by 2019, Fitch Solutions said in a report.

Rediscount loans hit P9.6 billion in Nov.

BANKS took additional loans from the central bank’s rediscount window in November, boosting money supply to service bigger capital expenses and commercial lending.

FX buffer edges up as of end-November but smaller than a...

GROSS INTERNATIONAL RESERVES (GIR) — which help shield the country from foreign exchange shocks — roughly steadied as of end-November from their end-October level, propped up by income from the central bank’s investments abroad, but was six percent less than the year-ago amount, according to data released on Friday by the Bangko Sentral ng Pilipinas (BSP).

Stratbase forum charts PHL outlook on economy, politics, international relations

BANGKO Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo said the “strong political capital” of the Duterte administration has provided government a leverage to push for policies that would further improve the country’s economy.

Yields on term deposits go up

DEMAND for term deposits improved this week but failed to fill the auction amount set by the central bank, driving yields higher into the five percent level.

Money supply growth at three-year low

MONEY SUPPLY growth eased to a three-year low in October, reflecting a decline in foreign assets as dollar reserves dropped further during the month, the Bangko Sentral ng Pilipinas (BSP) said.

Yields on term deposits down as demand drops

BANKS TRIMMED their placements in term deposits yesterday ahead of the long weekend, which drove yields down from last week’s all-time high.

Universal, commercial banks’ NPLs rise in September

SOURED DEBTS held by big banks rose further in September, but its share in their total loans remained modest despite bigger credit lines extended during the period, latest central bank data showed.

BSP to exempt some trust accounts from bank reserves

THE central bank will soon exempt certain trust accounts from bank reserves, a senior official said, which refer to special-use funds kept as deposits from companies.

Credit gap in agriculture seen over P360B — BSP

BANK financing remains out of reach for most agricultural firms, with the central bank noting that the credit gap worth over P360 billion as lenders skirt lending quotas under the law.

Yields on term deposits surge

YIELDS ON term deposits surged to fresh highs yesterday, with banks crowding all three tenors following a fresh rate hike from the Bangko Sentral ng Pilipinas (BSP).

BSP plans to sanction lenders that fail to join digital clearing...

THE CENTRAL BANK is looking to sanction lenders that will fail to join the industry’s digital clearing houses by end-November, possibly via a ban on offering new products.

Senate OK’s bill raising BSP’s capitalization to P200B

THE SENATE on Monday passed on third and final reading the bill raising the capital of the Bangko Sentral ng Pilipinas (BSP) to P200 billion from P50 billion.

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