Author: Lee C. Chipongian
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BSP bills awarded in full
Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila Jr. said the auction of its 28-day BSP bills continue to be oversubscribed or 1.67x the offered volume.
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GIR hits record high in 2020
The Philippines’ gross international reserves (GIR) climbed to record-high $109.797 billion as of end-December 2020, about $22 billion higher from end-2019’s $87.839 billion, based on Bangko Sentral ng Pilipinas (BSP) data.
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Remittances down 0.8% end-November 2020
Overseas Filipinos’ cash remittances reached $27.013 billion as of end-November 2020, down 0.8 percent year-on-year from $27.231 billion same time in 2019, the Bangko Sentral ng Pilipinas (BSP) reported Thursday.
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BSP to start construction of new printing facility
Despite being delayed by the COVID-19 pandemic, the Bangko Sentral ng Pilipinas (BSP) will pursue the construction of its 30-hectare new Currency Production Facility (CPF) in New Clark City in Capas, Tarlac this year.
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Bank lending growth drops, M3 expands to P13.7T
Bank lending growth has declined to 0.3 percent year-on-year in November last year versus 1.8 percent in October, the Bangko Sentral ng Pilipinas (BSP) reported late Wednesday.
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TDF rates fell; bids also down this week
The average interest rates of the central bank’s term deposit facility (TDF) continue to drop this week as tenders also declined by P140.68 billion.
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BSP issues clarification on digital bank license
New bank applicants that are proposing to operate business models that looked like digital banks will be approved as digital banks, according to a Bangko Sentral ng Pilipinas (BSP) memo released on Tuesday clarifying the new circular on the establishment of digital banks.
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Banks reduce rediscounting loans by 78%
Qualified banks included in the central bank’s rediscounting facility only took out P26.90 billion of rediscounting loans as of end-2020, 77.98 percent lower compared to end-2019 of P122.17 billion.
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BSP closely watching ‘too big to fail’ banks
The central bank’s scrutiny of domestic systemically important banks (D-SIBs) – these are large financial institutions deemed too big to fail – are heightened by enhanced D-SIBs metrics in response to rising pandemic-induced systemic threats to the financial system.
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6.5%-7.5% GDP growth in 2022 attainable – Diokno
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno is more confident of achieving an economic recovery back to the 6.5-7.5 percent level by 2022 as the country improves in responding to the public health crisis.
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Trust assets held by banks up 6% to P3.048 trillion
Banks’ trust assets were up 6.20 percent as of end-third quarter 2020 to P3.048 trillion from P2.870 trillion same period in 2019 with most preferring to be liquid and opting for safer investments during the pandemic.
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BSP drafts rules for payment operators
The Bangko Sentral ng Pilipinas (BSP) is proposing a reporting governance framework for the operators of payment systems (OPS).
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FCDU loans drop by 3.9% on quarter
Banks’ foreign currency deposit unit (FCDU) loans declined to $17.3 billion as of end-September, down by 3.9 percent from the previous quarter’s $18 billion.
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BSP extends regulatory relief to foreign bank branches
The branches of foreign banks in the Philippines can continue to use twice the level of net worth for its single borrower’s limit (SBL) until end-2021 as part of the Bangko Sentral ng Pilipinas’s (BSP) regulatory relief measures.
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BSP forecasts 2.9%-3.7% inflation in December
The Bangko Sentral ng Pilipinas (BSP) said the December inflation could be a low of 2.9 percent from November’s high of 3.3 percent, or it could move up more to 3.7 percent due to higher prices of some food.
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IIP’s net extermal liability down 64.9%
The Bangko Sentral ng Pilipinas (BSP) said the international investment position’s (IIP) net external liability is down by 64.9 percent to $4.8 billion as of end-September from end-June’s $13.6 billion.