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From the Front Page: Trade deficit, halted inflation, ease of business

Your weekly recap of BusinessWorld news.

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.

From the Front Page: FDI down, interest rates raised anew

Your weekly recap of BusinessWorld news.

October sees smaller hot money net outflow

FOREIGN PORTFOLIO investments continued to leave the Philippines in October, although the net outflow that month was far less than a year ago and in September, the Bangko Sentral ng Pilipinas (BSP) said on Friday.

BSP tweaks peso debt pricing rules for new valuations

THE CENTRAL BANK has tightened rules on the pricing of peso debt securities, taking into account new valuations for these papers.

Bids for term deposits down ahead of BSP review

DEMAND for term deposits waned this week ahead of the central bank’s upcoming policy review, with players also seeking higher yields amid uncertainty on interest rates.

Thrift banks told to boost buffers as NPLs climb

THE BANGKO SENTRAL ng Pilipinas (BSP) has cautioned thrift banks about the rising share of problem debts in their loans, with the regulator asking players to beef up buffers against potential losses.

BSP eyes 25% exposure limit for banks

By Melissa Luz T. Lopez, Senior Reporter THE CENTRAL BANK is looking to introduce a new measure that will cap credit exposures of banks, as...

Rediscount loans climb on tighter money supply

Rediscount loans climb on tighter money supply

Banks required to form task force on payment systems

By Melissa Luz T. Lopez, Senior Reporter THE Bangko Sentral ng Pilipinas (BSP) has required banks and players to set up a task force to...

BSP closes Quezon City bank

THE BANGKO SENTRAL ng Pilipinas (BSP) has shut down a bank based in Quezon City, bringing the number of closed lenders to 12 this year.

Yields on BSP’s term deposits climb further despite demand

YIELDS ON term deposits rose further this week as market players put forward higher bids to match the bigger offerings of the central bank.

Liquidity growth slowest in nearly three years

MONEY SUPPLY growth eased anew in September to post its slowest pace in almost three years, the central bank said, as bank lending also cooled at a time of higher interest rates.

Yields on term deposits go up

YIELDS fetched on term deposits climbed anew this week as the central bank reduced the amounts offered during Wednesday’s auction.

BSP declares financial system stable, poised for growth

THE financial system is sound and robust and will sustain its growth despite growing external uncertainties, the Bangko Sentral ng Pilipinas’ (BSP) said in a half-year report.

Toward a more robust and transparent consumer lending

In 2017, consumer loans in the Philippine banking system reached P1.49 trillion, up 17.3% from the P1.27 trillion worth of consumer loans recorded by...

Yields on term deposits mixed as banks swamp shorter tenors

YIELDS FETCHED for term deposits saw mixed movements this week amid cooling demand, with banks still choosing shorter lock-in periods for their excess funds under the central bank.

BSP eyes new clearing house for bills payments

THE BANGKO Sentral ng Pilipinas (BSP) is eyeing to roll out another clearing house meant to process bills payment transactions online, as they see a strong push from the retail space.

FX purchases still require forms despite liberalized rules − BSP

ALL PURCHASES of foreign currency should still come with corresponding application forms to be submitted to the Bangko Sentral ng Pilipinas (BSP), the regulator clarified, even as it is easing rules on such transactions.

BSP to require banks to report glitches within two hours

BANKS and other financial firms will soon be required to report cyber attacks and similar technology-related glitches within two hours, following the approval of new rules by the central bank.

Term deposit yields decline on demand

YIELDS FETCHED for term deposits declined this week amid strong demand, with banks willing to park more funds with the central bank even for longer periods.

BSP tightens standards for savings, loan associations

THE CENTRAL BANK is tightening rules covering non-stock savings and loan associations (NSSLAs) by capping service fees and requiring risk management protocols to enhance oversight.

BSP sets process for grant of regulatory relief

THE BANGKO SENTRAL ng Pilipinas (BSP) has approved new rules which prescribe a standard process for providing relief to bank branches operating in disaster-stricken areas.

BSP signs cooperation agreement with Czech central bank

THE Bangko Sentral ng Pilipinas (BSP) has signed a memoradum of understanding (MoU) on cooperation with the Czech National Bank covering information exchange and regulatory cooperation.

Nestor A. Espenilla, Jr.: An icon of grit and perseverance

Since taking up office as the fourth Governor of the Bangko Sentral ng Pilipinas (BSP) on July 3 last year, Nestor A. Espenilla, Jr....

Foreign portfolio investments yield net outflow

MORE FOREIGN CAPITAL exited the Philippines in September, marked by sustained net foreign selling of local stocks amid concerns on surging consumer prices and a weaker peso, the central bank said yesterday.

TDF yields hit fresh high

YIELDS fetched for term deposits surged to a fresh high yesterday even as demand cooled from a week ago, with players again crowding the seven-day papers at a time of market uncertainty.

Rediscount loans climb in September

REDISCOUNT LOANS availed by banks surged in September at a time of tighter money supply, which came ahead of another rate hike from the Bangko Sentral ng Pilipinas (BSP).

Espenilla gets B+ in central banker report card

BANGKO SENTRAL ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. got the third-highest rating for his first year as central bank chief, with the Global Finance magazine touting sustained economic growth while noting the weaker peso and a wider trade gap as setbacks.

Big banks fail to meet required MSME lending

BIG BANKS remained stingy in providing loans to small firms as they continued to miss the mandated credit quotas provided by law, latest data from the Bangko Sentral ng Pilipinas (BSP) showed.