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Banks’ foreign currency loans inch up on firms’ capital requirements

FOREIGN CURRENCY loans disbursed by local banks inched up in the last quarter of 2019 on the back of borrowing firms’ higher working capital requirements.

BSP may pump more money into system amid outbreak

THE Philippine central bank is expected to pump more money into the financial system as low lending rates fail to stimulate an economy that has been put into a standstill by a novel coronavirus pandemic.

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.

BSP to boost oversight of payment systems

THE BANGKO SENTRAL ng Pilipinas (BSP) is looking to boost its oversight of payment systems under a draft circular which will establish a framework for the sector.

BSP policy meeting to proceed this month

THE Philippine central bank will proceed with its policy meeting on March 19 even after some key members of the Monetary Board were either tested or had to go on self-quarantine for the novel coronavirus, its chief said on Friday.

BSP instructs lenders to prepare contingencies as virus spreads

THE BANGKO SENTRAL ng Pilipinas (BSP) is urging financial institutions to carry out measures such as alternate work arrangements to safeguard employees against the coronavirus disease 2019 (COVID-19) outbreak while making sure financial services are available to the public.

Yields on BSP’s term deposits drop on virus, lower oil prices

YIELDS ON THE central bank’s term deposit facility (TDF) declined further on Wednesday amid developments in the coronavirus disease 2019 (COVID-19) outbreak and the recent drop in oil prices.

Rediscount facility untapped

LENDERS DID NOT avail of the central bank’s rediscount facility for the fourth straight month in February, as banks had enough liquidity following the reserve requirement ratio (RRR) cuts implemented last year.

Diokno says banks have enough buffers vs risks

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno downplayed analysts’ expectations of a possible rise in nonperforming loans (NPLs) and slower credit growth due to the coronavirus disease 2019 (COVID-19) outbreak, saying local banks are “adequately capitalized” to withstand such risks.

TONIK to launch the first digital-only bank in the Philippines

TONIK is powered by BPC The Philippines is about to welcome its first digital-only bank. TONIK Digital Bank Inc, founded in 2018, received its banking...

February Inflation likely settled at 2.4-3.2% — BSP

INFLATION probably settled at 2.4-3.2% in February due to lower fuel, utility and food prices, according to the Philippine central bank.

Yields on term deposits decline as COVID-19 worries affect rates

YIELDS ON the central bank’s term deposit facility (TDF) continued to decrease despite lower bids on Wednesday as investors remain wary of risks that may arise as the coronavirus disease 2019 (COVID-19) continues to spread and amid signals of another rate cut in the second quarter.

BSP to grant regulatory relief to lenders affected by ASF, COVID-19...

THE CENTRAL BANK will grant regulatory relief to banks and quasi-banks (QBs) to help them cope with the adverse effects of the African Swine Flu (ASF) and the coronavirus disease 2019 (COVID-19) on several sectors.

BSP advises institutions to stop withholding tax on some payments to...

FINANCIAL institutions have been advised to stop withholding taxes on their payments to the Bangko Sentral ng Pilipinas (BSP) following the implementation of a BSP tax exemption under the New Central Bank Act.

BSP eyes another rate cut in Q2 amid outbreak

THE Philippine central bank may cut the key rate by another 25 basis points (bps) as early as the second quarter to shield the economy from the effects of a deadly coronavirus outbreak, according to its chief.

Term deposit yields decline on BSP rate decision, Fitch move

TERM DEPOSIT yields slipped on Wednesday despite lower bids following the recent rate cut from the central bank and Fitch Ratings’ upgrade of its outlook on its assessment of the Philippines.

R&I upgrades Philippines’ credit rating to BBB+

JAPAN-BASED Rating and Investment Information Inc. (R&I) has upgraded the Philippines’ credit rating on the back of its positive growth performance, healthy fiscal conditions and its infrastructure development drive.

Gross international reserves slip in January

THE COUNTRY’S dollar reserves slipped at end-January as the government paid its foreign exchange obligations, latest central bank data showed.

Banks shun BSP’s rediscount window

BANKS did not tap the rediscount window of the Bangko Sentral ng Pilipinas for the whole month of January.

Demand for term deposits declines amid concerns

BIDS FOR THE central bank’s term deposits declined as investors were looking ahead to a possible rate cut at this week’s policy meeting and amid concerns related to the coronavirus outbreak.

BSP, Bank Indonesia ink deal on innovation

THE BANGKO SENTRAL ng Pilipinas (BSP) inked a deal with Bank Indonesia to boost their ties in improving payment systems and digital financial innovation.

Claims held by non-bank financials rise 14.4% in third quarter

DOMESTIC claims of non-bank financial firms rose in the third quarter of 2019 supported by their investments and loans disbursed to the private sector, according to the Bangko Sentral ng Pilipinas (BSP).

At least two lenders looking to set up PHL Islamic banking...

TWO TO THREE banks have expressed interest to set up an Islamic banking unit in the country, according to Bangko Sentral ng Pilipinas Managing Director Arifa A. Ala.

Yields on term deposits decline

BIDS FOR THE central bank’s term deposits declined from the previous week but still filled the offer volume as liquidity returned following the holidays, causing rates to inch down.

Rediscount rates increased

RATES APPLICABLE for the central bank’s peso rediscount facility this month as well as dollar or yen-denominated loans have been increased after the adoption of a flexible term premium which was approved by the Monetary Board.

BSP: Inflation likely to stay within target range until 2021

INFLATION is likely to settle within the midpoint of the central bank’s target range this year until 2021, with risks tilting slightly upward, according to officials from the Bangko Sentral ng Pilipinas (BSP).

Banks’ lending standards mostly unchanged in the fourth quarter

MOST LENDERS maintained their overall credit standards for both enterprises and households in the fourth quarter, a Bangko Sentral ng Pilipinas (BSP) survey found.

Yields on term deposits drop on euro bond issue

TERM DEPOSIT yields continued to slip on Wednesday following the government’s issuance of euro-denominated bonds.

BSP’s Diokno dismisses banking-sector risk from POGOs

BANGKO Sentral ng Pilipinas Governor Benjamin E. Diokno dismissed the risks to the banking system posed by online gaming firms, adding to his long-standing position that the Philippines can easily do without the industry.

Reduced interest rate reporting for banks take effect this month

THE Bangko Sentral ng Pilipinas (BSP) said the reduced reporting requirements for banks on their interest rates on loans and deposits (IRLD), eliminating daily reports from the industry’s regulatory obligations, take effect this month.

Rediscount loans rise in 2019

LENDERS did not tap the central bank’s rediscount facility for the second consecutive month in December, with an analyst saying banks likely have enough liquidity due to the reserve requirement reductions implemented in 2019.

BSP approves report on banks’ intraday liquidity

THE BANGKO SENTRAL ng Pilipinas (BSP) will now require bigger lenders to report their intraday liquidity position as it looks to monitor its supervised institutions and their capacity to shoulder their day-to-day obligations with clients.

Inflation seen quickening in December

THE overall rise in commodity prices likely accelerated in December on the back of an uptick in electricity rates and oil prices as well as price pressures on certain food items due to weather-related incidents, the Bangko Sentral ng Pilipinas (BSP) said.

Monetary Board approves rules for Islamic banking framework

THE BANGKO SENTRAL ng Pilipinas (BSP) is set to issue the implementing rules for the country’s Islamic banking law after the Monetary Board (MB) approved two circulars outlining the licensing framework and discussing Shari’ah governance principles, a senior official said.

BSP fine-tunes rules for pawnshops, FX dealers

THE central bank has revamped registration rules for pawnshops and foreign exchange dealers as part of efforts against money-laundering, according to a memo issued by Deputy Governor Chuchi G. Fonacier.

Consumers, businesses remain bullish this quarter

CONSUMERS remained bullish this quarter, though less so than in the July-September period, while business confidence improved, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

BSP looking to cut rates by at least 50 basis points

THE CENTRAL BANK will cut benchmark rates by at least 50 basis points (bps) in 2020 as it continues to dial back the 175 bps worth of hikes done in 2018 fueled by a high inflation environment, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

BSP launches new P20, P5 coins

THE BANGKO SENTRAL ng Pilipinas (BSP) has launched the coin version of the P20 denomination which has a longer life span compared to its bill counterpart.

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.