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BPI raises P3 billion from LTNCDs

BANK OF THE Philippine Islands (BPI) has raised over P3 billion from long-term negotiable certificates of time deposit (LTNCTD), which it listed on the Philippine Dealing and Exchange Corp. (PDEx) on Friday.

Banks maintain credit standards in third quarter

MOST BANKS kept their overall lending standards untouched for both enterprises and households, a central bank survey found.

Peso rises after RRR cuts

THE PESO strengthened on Friday on the back of a fresh reserve requirement ratio (RRR) cut announced by the central bank, as well as risk-on sentiment due to an unclear Brexit, which supported currencies in emerging markets.

BSP trims RRR anew

THE Bangko Sentral ng Pilipinas (BSP) has cut banks’ reserve requirement ratio (RRR) for the fourth time this year, with the latest reduction to take effect in December.

S&P sees two more rate cuts until 2021

THE PHILIPPINES, together with neighbor Indonesia, may cut benchmark rates twice over the next two years, S&P Global Ratings said.

Metrobank raises P13.75B

METROPOLITAN BANK & Trust Co. raised P13.75 billion in fresh funds from its issuance of 3.5-year peso-denominated bonds, it said on Thursday.

Peso weakens anew versus dollar

THE PESO weakened on Thursday due to risk-off sentiment arising from geopolitical tensions in Hong Kong and Europe.

Customs marks P53 million of gas oil

ABOUT P53 million worth of gas oil with paid taxes amounting to P405.4 million was dosed with official fuel marker as part of a Customs initiative to deter smuggling.

Yields on term deposits up on government spending boost

YIELDS on term deposits slightly recovered on Wednesday amid improved government spending and market anticipation for yet another rate cut from the US Federal Reserve.

Peso up on Brexit delay

THE PESO rallied against the dollar on Wednesday with risk-on sentiment in the market rising, as another delay in Britain’s exit from the European Union looms.

BSP to monitor banks’ response to fresh RRR cuts

THE BANGKO SENTRAL ng Pilipinas (BSP) will monitor how banks will respond to the pre-announced reserve requirement ratio (RRR) reductions taking effect next month, an official said.

Rice tariffs top P15 billion, exceed RCEF requirement

THE Department of Finance (DoF) said rice import tariffs have totaled P15 billion, ensuring a surplus after the Rice Competitiveness Enhancement Fund (RCEF) is provided P10 billion by law, which the government could deploy for aid to farmers.

Peso weakens on profit taking

THE PESO slipped versus the dollar on Tuesday as the market pocketed gains from its recent rally.

National ID issuance to begin in April, Bangko Sentral says

ISSUANCE of the national ID will start in April, providing free access to a universally-recognized government identification card that is expected to make opening bank accounts easier and increase financial inclusion, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

Peso rallies versus dollar

THE PESO went up further against the dollar on Monday on the back of positive developments in the US-China trade talks.

Peso to climb further on weak US economic data

THE PESO is expected to climb further this week on weak economic data out of the United States last week and as Brexit negotiations continue.

National ID issuance to start April 2020

DISTRIBUTION OF identification cards under the Philippine Identification System (PhilSys) will start by April next year, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno announced.

September balance of payments turns around from year-ago deficit

THE COUNTRY’S balance of payments (BoP) sustained a surplus for the third straight month — though the smallest amount in that period — turning around from a year-ago deficit, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.

Peso rises on Brexit deal, weak US data

THE PESO rose further on Friday on the back of positive Brexit developments and a series of weak US data.

Hot money flows out for 2nd month in Sept.

FOREIGN portfolio investments -- also called “hot money” due to the ease by which these funds enter and leave the economy -- posted a net outflow for the second straight month in September, though by a smaller amount from the preceding month and a year ago, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.

BSP cuts to boost loans

RIZAL COMMERCIAL Banking Corp. (RCBC) expects the cumulative policy rate cuts by the central bank to boost loan demand.

PHL on track to meet 2020 growth target assuming timely budget...

THE Philippines is still on track to meet its target economic growth rate of 6-7% either in the second half of 2019 or in 2020 assuming the 2020 Budget is passed on time and that the Bangko Sentral ng Pilipinas (BSP) eases rates as expected, the Bank of the Philippine Islands ( BPI) said.

Analysts: another RRR cut still possible

MANAGEABLE inflation paired with the still unremarkable loan growth could allow room for another slash in banks’ reserve requirement ratio (RRR) towards yearend, economists said in interviews since last weekend.

IMF sees PHL growth picking up this semester

THE INTERNATIONAL MONETARY FUND (IMF), which on Tuesday slashed its Philippine economic growth projections further to 5.7% for this year and to 6.2% for 2020, nevertheless sees gross domestic product (GDP) expansion picking up this semester on the back of improved government spending, Yongzheng Yang, IMF resident representative to the Philippines, said in an e-mail on Wednesday.

TDF yields decline on inflation outlook

YIELDS on term deposits continued to decrease on Wednesday on expectations of slower October inflation and following the International Monetary Fund’s (IMF) downgraded economic growth outlook for the country.

BPI net income climbs 38.6% in Q3

BANK of the Philippine Islands (BPI) reported higher net earnings in the third quarter supported by growth in its core businesses.

AUB offers 3-year bonds

ASIA UNITED BANK Corp. (AUB) has started offering three-year peso-denominated bonds, with the lender targeting to raise at least P3 billion from its maiden issuance.

Peso rebounds on Brexit negotiations

THE PESO recovered on Wednesday against the dollar on the back of positive developments in the Brexit negotiations and as remittances from overseas Filipino workers (OFW) rose in August.

Remittance data bare Q3 spending lift

MONEY SENT HOME by overseas Filipino workers (OFW) grew for the second straight month in August -- by a slower pace than in July, although it was still a turnaround from the year-ago slump -- according to data the Bangko Sentral ng Pilipinas (BSP) released on Tuesday.

IMF cuts Philippine growth forecasts anew

THE INTERNATIONAL MONETARY FUND (IMF) has slashed further its gross domestic product (GDP) growth projection for the Philippines, adding to other groups that now expect the economy to miss the government’s targets for this year and 2020.

BSP slashes mandatory bond reserve

THE BANGKO SENTRAL ng Pilipinas (BSP) has moved to make local bonds issued by banks and quasi banks (QBs) more attractive to investors by reducing the reserve requirement rate (RRR) for such debt by 300 basis points from six percent currently, effective Nov. 1, according to an official statement on Tuesday.

Peso weakens anew vs dollar

THE PESO weakened anew against the dollar on Tuesday following reports of China’s plan to send out delegations to the United States to fine-tune the first phase of their trade deal.

Bangko Sentral set to circulate new P20, ‘enhanced’ P5 coins

THE BANGKO SENTRAL ng Pilipinas (BSP) is set to circulate a new version of the five peso coin to address confusion with other New Generation Currency (NGC) coins as well as a new P20 coin.

BSP boosts lending transparency measures

THE BANGKO SENTRAL ng Pilipinas has boosted its measures towards lending transparency, now mandating non-bank financial players to ensure consumers are informed about their services via various modes of communication, such as social media.

Peso inches higher on US-China trade deal

THE PESO inched higher against the dollar on the back of risk-on sentiment as the first phase of trade negotiations between the United States and China went well, with Beijing vowing to buy $50 billion worth of agricultural products from the world’s largest economy.

BSP boosts watch on big banks

THE BANGKO SENTRAL ng Pilipinas (BSP) has enhanced its framework for watching banks deemed too big to fail, the monetary authority said in a press release on Saturday.

Peso may climb further on US-China trade talks

THE PESO may climb further on corporate flows and amid continued optimism regarding the trade talks between the United States and China.

FDI net inflow drops 41% in July

NET INFLOW of foreign direct investments (FDI) — which point to long-term capital that generate jobs and transfer technologies — fell by 41% in July, with Bangko Sentral ng Pilipinas (BSP) governor Benjamin E. Diokno attributing this to the overall global economic slowdown and lingering uncertainty over the government’s tax reform program.

PNB raises P4.6 billion via LTNCDs

PHILIPPINE National Bank (PNB) has raised P4.6 billion in long-term negotiable certificates of deposit (LTNCD), marking the second tranche of its P20-billion program approved by the central bank.

Peso strengthens further on hopes of US-China trade deal

THE PESO climbed further on Friday on the back of optimism on a trade deal between the United States and China.

Rediscount loans drop

LOANS taken out by banks from the central bank’s rediscount window fell in September from the previous month, central bank data showed.

Peso up on trade talks

THE PESO climbed versus the dollar on Thursday as the United States and China restart trade talks and following positive local data.

TDF yields down on hints of fresh RRR cut

YIELDS ON term deposits continued to decline on Wednesday on the back of slower inflation and chances of another cut in banks’ reserve requirement ratios (RRR).

Risk from POGO departure not considered major — BSP

THE Bangko Sentral ng Pilipinas (BSP) reiterated its position that the exit of Philippine Offshore Gaming Operators (POGOs) will have no significant effect on the economy.

Peso weakens vs dollar

THE PESO traded sideways on Wednesday as the US widened its trade black list to include Chinese artificial intelligence firms.