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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.

BSP rate cuts totaling 75 bps seen likely in fourth quarter...

THE Bangko Sentral ng Pilipinas (BSP) will likely reduce rates by a further 75 basis points (bps) cut in the fourth quarter to provide support to the economy, amid constraints on the fiscal side of the economic stimulus program, Nomura Global said.

Senate bill seeks to allow BSP to look into deposits

A MEASURE relaxing restrictions under the bank secrecy law to allow the central bank to look into deposits for possible fraudulent activities has been filed in the Senate.

Banks’ soured loans highest in 6 years

LOCAL BANKS’ bad loans continued to rise in July as the economy was battered by the coronavirus pandemic, bringing the industry’s nonperforming loan (NPL) ratio to its highest level since 2014.

Banks borrow P3M from rediscount window in Aug.

LENDERS LOGGED minimal availments from the rediscount window of the Bangko Sentral ng Pilipinas (BSP) in August, showing banks are still armed with enough cash to service their clients’ needs.

Revamped currency bills in circulation hit P24.5 billion

THE central bank has circulated 29 million pieces of the enhanced New Generation Currency (NGC) worth P24.5 billion, with the new bills expected to...

BSP to issue own securities next week

THE central bank is set to begin selling its own securities on Sept. 18, saying this will become an additional tool in managing liquidity in the financial system.

BSP sees loan growth to pick up by yearend

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno expects credit growth to pick up by yearend, as consumer and business confidence is restored with easing lockdown measures over the next few months.

BSP shifts to active gold trading

THE central bank’s decision to go into active gold trading is seen as a timely move, as the price of the safe-haven asset has risen amid the pandemic, analysts said.

Islamic banking seen to support Marawi rebuilding

THE REHABILITATION of Marawi can be supported by the establishment of Islamic lenders and banking units that have Shariah compliant mechanisms as this can aid small businesses and build infrastructure in the war-torn area, an official of the Bangko Sentral ng Pilipinas (BSP) said.

Yields on term deposits inch up as budget deficit widens in...

YIELDS ON the term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) rose on Wednesday following the wider budget deficit as of July amid expenses for the government’s pandemic response and declining tax revenues.

BSP uses sandbox approach to boost electronic payments

THE CENTRAL BANK is using a sandbox approach to support the growth of digital financial players in the “new normal” amid the coronavirus pandemic, said Bangko Sentral ng Pilipinas (BSP) Assistant Governor Iluminada T. Sicat.

BSP wants to count green loans against Agri-Agra compliance

THE CENTRAL BANK is looking to encourage lenders to build up their  sustainable loans by counting these as part of the mandated Agri-Agra credit,  Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

Central bank flags potential systemic risks from global recession

THE central bank vowed to ensure financial stability in the market, as it raised the possibility that “systemic risks may materialize” due to the global recession.

TDF yields inch higher as BSP keeps rates steady

YIELDS ON the term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) mostly climbed on Wednesday following its decision to maintain benchmark rates and due to expectations of faster inflation this year.

BSP ready to ease policy ‘if warranted’

THE central bank still has room for further easing if the need arises, Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said.

‘BBB’ funding excluded from loan limit

THE central bank’s mandated limit on big banks’ real estate loans will not include loans and securities that will finance public infrastructure projects, in a bid to boost the government’s “Build, Build, Build” (BBB) program.

Peso free to extend Asia’s biggest gain as Diokno stands aside

The Philippine peso advanced closer toward the psychologically significant level of 48 per dollar after Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the market was free to determine its level.

BSP has room to cut rates a further 25 bps —...

MONETARY AUTHORITIES have leeway to reduce rates by a further 25 basis points (bps) this year after the central bank said it is observing a “prudent pause” to judge the impact of policy on the economy’s re-opening, Mitsubishi UFJ Financial Group said.

BSP keeps benchmark rates steady

THE Bangko Sentral ng Pilipinas (BSP) kept benchmark interest rates unchanged on Thursday amid a benign inflation outlook and signs of economic recovery.

Central bank relaxes limit to real estate lending

THE central bank on Thursday raised the limits on real estate loans of big banks, a move which it says would unleash more than a trillion in liquidity for real estate lending to lift the economy amid the coronavirus crisis.

Virus to hit credit profiles of neobanks’ borrowers

THE PHILIPPINES is one of the countries with the biggest potential in digital banking in the ASEAN given its wide unbanked population, although the coronavirus crisis may have hit possible borrowers’ profiles, Fitch Ratings said.

TDF yields inch down as demand rebounds

YIELDS ON term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) dropped on Wednesday, with liquidity levels normalizing after the settlement of the government’s retail Treasury bonds (RTBs).

BSP seen to leave key rate untouched

THE central bank will likely keep its key policy rate untouched at its policy review on Thursday, a majority of economists polled by BusinessWorld said.

T-bill rates to dip ahead of BSP decision

RATES OF THE Treasury bills (T-bills) to be auctioned off this week will likely decline as investors wait for the central bank’s policy decision on Thursday.

BSP warns vs 1-year debt moratorium

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno on Thursday warned the proposed one-year debt moratorium for borrowers under the Bayanihan to Recover as One (Bayanihan II) measure will “significantly strain” the banking industry.

Banks’ soured loans climb in June

LOCAL BANKS saw soured loans rise by a fourth as of end-June, reflecting the economic impact of the coronavirus pandemic, data from the central bank showed.

TDF yields go up as bids decline after record retail bond...

YIELDS ON THE term deposits offered by the Bangko Sentral ng Pilipinas (BSP) rose on Wednesday as bids declined following the record-high amount raised from retail Treasury bonds (RTBs) last week.

Banks grant more loans to MSMEs, says BSP

BANKS are extending more loans to micro, small and medium enterprises (MSMEs) and big companies to help them cope with the ongoing crisis, the central bank said on Tuesday.

BSP sees no reason for further easing

THE Bangko Sentral ng Pilipinas (BSP) is not inclined to cut rates further at this time and will likely keep rates steady in the next quarters, BSP Governor Benjamin E. Diokno said on Monday.

Rediscount facility untapped amid BSP’s easing measures

BANKS did not tap the rediscount facility of the Bangko Sentral ng Pilipinas (BSP) in July as policy easing measures have already boosted liquidity in the market.

Yields on BSP’s term deposits inch higher on faster inflation

YIELDS ON THE term deposits offered by the Bangko Sentral ng Pilipinas (BSP) rose slightly on Wednesday as bids declined following the release of the July inflation data.

Inflation picks up in July

The overall year-on-year increase in prices of widely used goods quickened slightly in July, the Philippine Statistics Authority (PSA) reported this morning. Preliminary data from the...

BSP reminds banks to be prudent in granting loans

BANKS are expected to be prudent in extending credit amid the pandemic by reviewing their borrowers’ profiles and assessing their loan book, the Bangko Sentral ng Pilipinas (BSP) said.

BoP swings to $80-M surplus in June

THE balance of payments (BoP) registered an $80-million surplus in June — the slimmest in five months, reflecting the proceeds from foreign loans obtained by the government to fund its coronavirus response, the Bangko Sentral ng Pilipinas (BSP) said on Thursday.

Inflation seen at 2.2% to 3% in July — BSP

HEADLINE INFLATION likely settled at 2.2% to 3% in July, due to the uptick in prices of basic goods such as oil and rice, according to Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno.

PhilPASS Plus to go live by June 2021

A REVAMPED VERSION of the country's real-time gross settlement system for interbank transactions and government collections will go live by June next year, said Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.

Term deposit yields inch down as demand soars

YIELDS ON THE Bangko Sentral ng Pilipinas’ (BSP) term deposits slipped further on Wednesday as bids climbed amid ample liquidity in the market.

BSP launches enhanced banknotes

THE BANGKO SENTRAL ng Pilipinas (BSP) launched the latest generation of banknotes equipped with heightened security features, distinction for better recognition and enhanced designs portraying indigenous culture.

BSP sees benign inflation until early 2021

INFLATION will likely stay benign as the economy recovers over the remainder of the year and into the first quarter of 2021, according to the Bangko Sentral ng Pilipinas (BSP).

BSP launches chatbot for customer concerns

THE Bangko Sentral ng Pilipinas (BSP) has launched a chatbot as part of its Consumer Assistance Management System to help the public with concerns regarding BSP-supervised financial institutions (BSFIs).

BSP requires LANDBANK to allocate 5% of loans for socialized credit

THE MONETARY BOARD has approved the implementing rules and regulations (IRR) of Republic Act No. 10878 which looks to boost direct credit support to farmers and agrarian reform beneficiaries through the Land Bank of the Philippines (LANDBANK).

Laguna court convicts former bank owner for estafa

A FORMER OWNER of a now-defunct Laguna rural bank has been convicted for estafa due to falsification of public documents and was sentenced to imprisonment and subject to fines.

Yields on BSP’s term deposits slip on surprise reserve ratio cut

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposits slipped on Wednesday after the reduction in smaller banks’ reserve requirement ratios.