Home Tags BSP

Tag: BSP

BoP turnaround continues with May surplus

THE Bangko Sentral ng Pilipinas (BSP) said it estimates that the balance of payments in May continued to reflect a surplus, of about $3.7 billion, continuing the turnaround from a deficit of $3.5 billion as recently as November.

Central bank calls on financial institutions to sign up on cybersecurity...

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).

Bids for BSP’s term deposits decline

BIDS FOR term deposits dropped on Thursday as the central bank placed a lower volume on offer two weeks ahead of the second round of cuts to banks’ reserve requirement ratio (RRR).

SITI quits trust business, shifts focus to real estate

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.

Rediscount borrowings by banks decline in May

BANKS TOOK less loans out of the central bank’s rediscount window in May, with the credit going to their purchases and commercial credits.

Dealing with the most constructive yet destructive force in the financial...

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....

BSP chief ‘cautiously optimistic’ on Philippine economy

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno is “cautiously optimistic about the current state of the Philippine economy,” amid lingering global headwinds.

Demand for term deposits rises

DEMAND for term deposits increased on Thursday after the first round of cuts to lenders’ reserve requirement ratios (RRR), but was still not enough to fill the amount placed on the auction block.

Demand for TDF drops ahead of reserve requirement reductions

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.

BSP okays revised rules for external auditors’ selection

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.

Full foreign bank entry, (almost) five years in

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.

Hot money leaves PHL in April

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.

Bids for term deposits decline

APPETITE for term deposits declined on Wednesday ahead of the implementation of the first stage of a phased reduction in big banks’ reserve requirement ratio (RRR) announced by the Bangko Sentral ng Pilipinas (BSP) last week.

Central bank chief signals more reserve ratio cuts

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.

Foreign direct investments climb in February

FOREIGN DIRECT investments (FDI) climbed in February on investor optimism over the country’s growth prospects and fundamentals, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

BSP to look at growth as it considers further rate cuts

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.

Demand for term deposits rises

BANKS’ APPETITE for term deposits increased this week to push yields lower as the central bank placed a higher volume on the auction block ahead of its monetary policy review.

BSP, AMLC strengthen partnership

THE BANGKO SENTRAL ng Pilipinas (BSP) renewed its partnership with the Anti-Money Laundering Council (AMLC) to ensure the Philippines will not be used as a money laundering site and is secure from terrorism financing.

Reserves climb further in April

GROSS international reserves (GIR) in the country climbed further in April for the fifth straight month on higher inflows from the central bank’s foreign exchange operations, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.

Central bank sees rate cut impetus from S&P rating upgrade

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.

Demand for BSP’s TDF drops ahead of review

APPETITE FOR term deposits declined at this week’s auction ahead of the meeting of the Bangko Sentral ng Pilipinas’ (BSP) policy-setting Monetary Board.

BSP assessing BPI glitch

THE BANGKO SENTRAL ng Pilipinas (BSP) is still assessing the technical glitch encountered by the Bank of the Philippine Islands (BPI) as it upgraded its systems earlier this month.

Central bank to release ESG guidelines

THE BANGKO SENTRAL ng Pilipinas (BSP) is looking to release this June guidelines incorporating environmental, social, and governance (ESG) finance in banks’ operations.

Banks keep credit standards steady in Q1

MOST BANKS kept their lending criteria little changed in the first quarter, according to the results of a central bank survey.

Bank economists see within-target inflation until 2021

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.

Yields on one-week term deposits drop

YIELDS on the one-week term deposits eased on Wednesday as the central bank lowered the volume of its facility to a record low.

BSP trims TDF offering to P10B

THE BANGKO SENTRAL ng Pilipinas (BSP) lowered the volume of its term deposit facility (TDF) offering next week to P10 billion — the lowest in history — due to upcoming holidays.

Banks’ rediscount borrowings increase in March

BANKS TAPPED more loans via the central bank’s rediscounting window in March, as credit for businesses and capital purchases rose during the period.

BSP approves operations of 3 new VC exchanges

THE CENTRAL BANK approved last month the operations of three new virtual currency (VC) exchanges in the Philippines.

BSP signs currency settlement deals with ASEAN central banks

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.

Yields on term deposits decline on strong demand from lenders

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.

Feb. M3 growth slowest in 6 years at 7.1%

MONEY supply growth eased further in February to post its slowest level in over six years, in line with softer growth in bank loans, the Bangko Sentral ng Pilipinas (BSP) said yesterday.

Thrift banks to expand outreach to unbanked Filipinos

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.

Bids for term deposits decline as BSP slashes auction volume

DEMAND FOR term deposits was halved this week as the central bank slashed the auction amount, in anticipation of higher cash requirements next month.

BSP likely to cut rates by May

THE Bangko Sentral ng Pilipinas (BSP) will likely reduce key interest rates by May, noting that policy makers are likely growing more confident after inflation forecasts were slashed anew on Thursday.

Virtual currency ATMs need BSP approval

FINANCIAL FIRMS that will provide virtual exchange conversions via automated teller machines (ATMs) must get the central bank’s approval before offering such service to the public.

Yields on term deposits mixed ahead of BSP’s policy meeting

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.

Record-high current account gap marks 2018

THE COUNTRY’s current account deficit ballooned in 2018 to exceed an official full-year forecast, fueled by a wider merchandise trade gap, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

TDF demand drops with just two tenors on offer

DEMAND for term deposits slipped this week as the central bank didn’t offer any one-month papers, although yields continued to drop for the shorter instruments.

Central bank to launch new clearing house for gov’t

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.

Rediscount loans climb

BANKS TOOK more loans out of the central bank’s rediscount window in February, with the amounts poured into capital purchases and import payments.

Growth to stay above 6% in Q1 on spending, slower inflation

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 decline as demand rebounds after RTBs

YIELDS ON term deposits fell across the board this week, supported by stronger demand as banks appear to remain awash with cash.

In Memory of Governor Nesting

Delivered by then Bangko Sentral ng Pilipinas Officer-in-Charge Maria Almasara Cyd N. Tuaño-Amador on Feb. 26 My dear colleagues: News of the Governor’s passing away on...

A banker to remember

The late Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr., who passed away last month after battling tongue cancer, practically devoted his...