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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 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.
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.
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.
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.
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.
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.
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.
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 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 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.
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.
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).
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 the Bangko Sentral ng Pilipinas’ (BSP) term deposits slipped on Wednesday after the reduction in smaller banks’ reserve requirement ratios.
THE CENTRAL BANK will extend the effectivity of its regulatory relief measures until March 2021 and is also open to lengthening this depending on how the crisis plays out.
A PARTY-LIST legislator said the central bank needs to treat the Agri-Agra Law as a potential driver of the economic recovery, and exert more effort to ensure bank compliance with the lending quotas set for the agriculture and agrarian reform sectors.
THE Bangko Sentral ng Pilipinas (BSP) said about 5 million Filipinos gained access to formal bank accounts between 2017 and 2019, leaving about 51.2 million adults still unbanked.
YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposits inched up on Wednesday ahead of the retail Treasury bond (RTB) offering of the government.
THE Department of Finance (DoF) and the Bangko Sentral ng Pilipinas (BSP) renewed their call for the lifting of bank secrecy, after the Philippines was dragged into a financial scandal involving German payments company Wirecard AG last month.