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TO HELP strengthen the banking industry’s resilience to cyber attacks, the Bangko Sentral ng Pilipinas (BSP) has ordered BSP-supervised financial institutions (BSFIs) to participate in a cybersecurity sharing platform hosted by the Bankers Association of the Philippines (BAP).
THE STATE Investment Trust, Inc. (SITI) voluntarily surrendered its trust license to the Bangko Sentral ng Pilipinas (BSP) to focus on the real estate business for higher profit.
By Mark Louis F. Ferrolino, Special Features Writer For several decades, traditional banks have held a dominant market share with little modification to their business models....
BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno is “cautiously optimistic about the current state of the Philippine economy,” amid lingering global headwinds.
BIDS FOR term deposits declined further on Wednesday ahead of the first round of cuts to lenders’ reserve requirement ratios (RRR) taking effect this week.
THE CENTRAL BANK has rationalized the framework for the selection of external auditors of Bangko Sentral ng Pilipinas (BSP) Supervised Financial Institutions (BSFIs) to streamline and centralize requirements across agencies.
UP UNTIL May 1994, no foreign bank was permitted to enter the country apart from four foreign lenders that were already operating at that time. In February 1995, the Bangko Sentral ng Pilipinas (BSP), under Republic Act (RA) No. 7721, approved the application of 10 out of 22 foreign banks that had expressed interest. Under RA 7721, only when one of the 10 banks pulls out could another offshore lender enter the Philippine financial system.
FOREIGN PORTFOLIO investments went out of the country for a second straight month in April following the delayed approval of the government’s 2019 spending plan and earthquakes that hit Luzon and the Visayas, as well as the ongoing US-China trade war, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.
THE BANGKO SENTRAL ng Pilipinas (BSP) will consider reducing the reserve requirement ratio (RRR) for lenders further if banks don’t misbehave and speculate against the peso, Governor Benjamin E. Diokno said.
THE COUNTRY’S economic outlook and the peso’s stability will be the key deciding factors for the Bangko Sentral ng Pilipinas (BSP) in further cutting its policy rates and reducing banks’ reserve requirement, think tank Fitch Solutions said in an analysis.
THE BANGKO SENTRAL ng Pilipinas (BSP) sees room to “move faster” in easing monetary policy following the sovereign debt rating upgrade last April from S&P Global Ratings, the central bank chief said in an ABS-CBN News Channel (ANC) interview, noting that the domestic economy likely grew “slightly higher” than six percent in the first quarter of the year.
BANK ECONOMISTS expect inflation to remain broadly within target this year and until 2021 amid downward pressures to the outlook, according to results of a recent central bank survey.
THE BANGKO SENTRAL ng Pilipinas (BSP) has forged agreements with the central banks of Indonesia, Malaysia and Thailand as they look to set up direct settlement systems across currencies.
DEMAND FOR term deposits nearly doubled this week, driving yields down as more banks wanted to park their excess funds under the central bank’s watch.
THE Chamber of Thrift Banks (CTB) said its members will seek to reach more unbanked Filipinos through new technology, in compliance with a Bangko Sentral ng Pilipinas (BSP) mandate to increase inclusivess.
DEMAND FOR term deposits was halved this week as the central bank slashed the auction amount, in anticipation of higher cash requirements next month.
TERM DEPOSITS offered by the Bangko Sentral ng Pilipinas (BSP) saw mixed movements in yields this week, which comes a day ahead of a rate-setting meeting.
THE CENTRAL BANK is looking to launch a new clearing house that will allow digital payments for government services, as part of a stronger push for online transactions.
THE BANGKO SENTRAL ng Pilipinas (BSP) expects economic growth to remain above six percent this quarter, with the view that strong government spending will prop up domestic activity despite budget delays and as inflation slows.
YIELDS ON term deposits fell across the board this week, supported by stronger demand as banks appear to remain awash with cash.