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Gov’t makes full award of bonds as yield drops on strong...

THE GOVERNMENT on Tuesday made a full award of its offer of reissued 10-year Treasury bonds (T-bonds) as its yield dropped, with investors continuing to prefer safe-haven securities as the coronavirus pandemic stretches on.

FWD Life gains market share on digitization efforts

FWD Life Insurance Corp. has cornered a higher market share in the country and is bullish their digitization efforts will continue to help them reach more clients in 2021, said its president and chief executive officer Li Hao Zhuang.

Peso down ahead of Fed, BSP meetings

THE PESO depreciated against the dollar on Tuesday due to cautious investor sentiment ahead of the US Federal Reserve’s policy meeting.

BIR collects P582M in back taxes from firms shut down temporarily

THE Bureau of Internal Revenue (BIR) said it collected P582.5 million in the 11 months to November worth of taxes and fees owed by establishments it ordered temporarily closed.

BSP OKs new regulatory relief for savings and loan associations

THE BANGKO Sentral ng Pilipinas (BSP) will allow non-stock savings and loan associations (NSSLAs) to include accrued interest on some loans in their 2020 net profit, for the purpose of income distribution to members, as a way to extend relief to the industry during the pandemic.

BSP likely to keep rates steady — poll

THE CENTRAL BANK is likely to keep its key policy rates at the record low levels on Thursday, as it considers the recent uptick in the country’s inflation rate, according to analysts.

Interest income boosts central bank earnings

THE CENTRAL BANK’S net profit rose in the third quarter supported by improving gains from domestic securities and foreign exchange trading.

Peso may weaken on local data

THE PESO is seen to depreciate versus the dollar this week amid risk-off sentiment in the market due to Brexit uncertainties as well as a possible drop in monthly remittances.

FDI net inflows slide in September

FOREIGN DIRECT investments (FDI) to the Philippines slumped in September after four straight months of year-on-year growth, as uncertainty over the coronavirus disease pandemic weighed on investor sentiment.

Bad loans ratio edges up in Oct.

SOURED LOANS in lenders’ portfolios continued to pile up for the ninth straight month, reflecting the grim impact of the pandemic on businesses and consumers.

RCBC sees prolonged virus hit

RIZAL COMMERCIAL Banking Corp. (RCBC) sees continued asset quality risks as the challenging environment may persist for both consumers and businesses in 2021.

Rediscount window left untapped in Nov. on ample liquidity

BANKS DID NOT avail of the rediscount facility of the Bangko Sentral ng Pilipinas (BSP) for the second straight month in November on the back of ample liquidity and reduced demand for loans.

Peso down on US stimulus delay

THE PESO weakened against the greenback on Thursday on muted investor appetite following stalled discussions for a fresh stimulus fund in the United States.

Central bank, JICA unveil database to help evaluate SME credit risk

THE Bangko Sentral ng Pilipinas (BSP) and the Japan International Cooperation Agency (JICA) announced the list of banking participants for a credit risk database project intended to facilitate lending decisions for small businesses.

Term deposit yields slip on RRR cut bets

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) on Wednesday inched down amid higher bids and expectations of a possible reduction in banks’ reserve requirement ratio (RRR).

Double-digit nonperforming loan ratio unlikely

BANKS WILL NOT see a repeat of the double-digit nonperforming loan ratios (NPL) seen during the Asian financial crisis (AFC), with their experiences to differ depending on their credit exposures, UnionBank of the Philippines, Inc. President and Chief Executive Officer Edwin R. Bautista said on Wednesday.

Peso gains on vaccine progress in US, UK

THE PESO strengthened anew against the greenback on Wednesday, backed by hopes of positive vaccine developments in the United States and the United Kingdom.

Nomura downgrades PHL 2021 growth view, citing slow vaccine procurement

NOMURA GLOBAL Research downgraded its growth projection for the Philippines to 6.8% in 2021 from 7.1% earlier, citing the government’s slow vaccine procurement process relative to the region.

Banks need to boost cybersecurity protocols to guard vs threats, attacks...

FINANCIAL INSTITUTIONS need to continue boosting their guard against fraud and crimes as consumers shift towards online transactions amid the coronavirus pandemic, stakeholders said.

Fitch Ratings warns of low-base distortions in 2021 growth data

THE Asia-Pacific economic recovery in 2021 could be “misleading,” with apparent rebounds that are actually the result of the low base formed by 2020, while fresh outbreaks could also deal setbacks to pandemic containment efforts, Fitch Ratings said in a report Monday.

Inflation picks up in November, fastest in 21 months

The overall year-on-year increase in prices of widely used goods accelerated to its fastest pace in 21 months in November, the Philippine Statistics Authority...

Outstanding debt hits P10 trillion in October

The outstanding debt of the national government (NG) reached P10 trillion as of end-October, as it borrowed more to fund the country’s pandemic response. The...

Liquidity, lending growth hit multi-year lows in October

LIQUIDITY GROWTH eased further in October as credit expansion slumped to its slowest in nearly 14 years amid continued cautiousness among banks and consumers...

BSP fully awards offer of one-month securities

THE BANGKO SENTRAL ng Pilipinas (BSP) fully awarded its offer of short-term securities on Friday on the back of strong demand. The BSP raised P60...

BSP releases guidelines for establishment of digital banks

THE BANGKO SENTRAL ng Pilipinas (BSP) has released the guidelines for establishing digital banks in the country, giving it a distinct classification to boost...

Peso edges higher on vaccine news, remittances

THE PESO continued to strengthen against the greenback on Friday, supported by vaccine hopes and remittances from overseas Filipino workers (OFWs). The local unit closed...

BSP sets rules for nonbanks’ crime reporting

THE CENTRAL BANK has laid out guidelines for the reporting of crimes and its resulting losses for nonbank financial institutions (NBFIs).

Peso inches up on easing unemployment

THE PESO strengthened slightly against the greenback on Thursday following the release of data showing lower unemployment as of October.

BSP sees monetary measures’ impact lagging; backs fiscal action

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno said fiscal measures could be more effective for revving up the recovery at the moment, with monetary easing undertaken during the pandemic still taking time to filter down the banking system.

Yields on BSP’s term deposits inch down on inflation outlook

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) on Wednesday slipped on expectations of faster inflation in November.

Property price slowdown emerging risk for banks

THE property market could emerge as a risk to the banking sector if prices stall, while an increase in bad loans overall in 2021 is not likely to significantly threaten bank profits because of aggressive provisioning by many banks early on, Fitch Ratings said.

BSP seen to continue easing to support economy

SOME ASIAN central banks, including the Bangko Sentral ng Pilipinas (BSP), will likely remain accommodative in 2021 to provide support to their coronavirus-battered economies, a think tank said.

Moody’s sees sluggish loan growth on banks’ tighter credit standards

THE COMING YEAR will likely remain challenging for Philippine banks as they may face continued tepid loan growth and downside risks to profitability, an analyst from a debt watcher said.

Inflation likely picked up in Nov. — poll

THE headline inflation rate in November likely quickened as a recent spate of typhoons pushed the prices of food and agricultural products higher, economists said. 

Quasi-lenders’ loan portfolio drops in 1st half

THE LENDING portfolio of nonbank financial institutions with quasi-banking functions (NBQBs) dropped in the first half of the year as players merged or gave up their licenses, an official from the Bangko Sentral ng Pilipinas (BSP) said.

PHL recovery to be hindered by Nov. typhoons

THE economy’s recovery will be hindered by the series of typhoons that hit during the fourth quarter, with fiscal and monetary measures necessary to provide support, S&P Global Ratings said.

‘Hot money’ reverses to net inflow

MORE FOREIGN CAPITAL entered than left the country in October to yield a net inflow after seven straight months of outflows, the Bangko Sentral ng Pilipinas (BSP) said on Thursday.

BSP approves regulatory framework for digital banks

THE MONETARY BOARD has approved a regulatory framework for digital banks, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said on Thursday.

BSP policy stance to stay accommodative

THE CENTRAL BANK has room to remain accommodative if there is further need to support the economy towards recovery, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila, Jr. said.

October BoP surplus biggest in nearly a decade

THE COUNTRY’S balance of payments (BoP) surplus reached its highest in nearly a decade in October, supported by the Bangko Sentral ng Pilipinas’ (BSP) income from foreign investments and foreign exchange operations.

House approves bill amending AMLA on 2nd reading

THE House of Representatives on Tuesday evening approved on second reading a measure strengthening the regulations against money laundering, which is key to helping the country avoid being gray-listed by the Financial Action Task Force (FATF).

Yields on term deposits decline sharply on surprise easing move

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) dropped on Wednesday following the central bank’s surprise rate cut last week.

Banks to continue digital shift in post-pandemic world

BANKS will continue to beef up digital capabilities and rethink branch strategies as consumers are likely to keep engaging in off-the-branch transactions in a post-pandemic world, Bank of the Philippine Islands (BPI) President and Chief Executive Officer Cezar P. Consing said on Wednesday.

BSP approves new ‘dirty money’ risk assessment system

A NEW SYSTEM for assessing “dirty money” and terrorism financing risks in financial institutions has been approved by the Bangko Sentral ng Pilipinas (BSP).

Regional income inequality seen worsening in countries spending less on welfare

INCOME INEQUALITY is expected to worsen in Asia Pacific economies that skimped on social safety nets and welfare spending during the pandemic, according to Moody’s Investors Service.