Business NEWS

The Bangko Sentral ng Pilipinas (BSP) has approved new rules on banks and non-banks’ robust fraud management systems to build up its cybersecurity resiliency.

Despite geopolitical tensions, the Bangko Sentral ng Pilipinas (BSP) expects overseas Filipinos’ remittances to remain robust and sustain the projected four percent annual growth for a long time.

Insular Life (InLife) said its advocacy that aims to empower women has reached lives of more than 7.6 million Filipinos since its launched in 2019.

Healthcare benefits and claims rose by 25 percent from October to December last year amid the prolonged pandemic, the Insurance Commission reported on Friday, March 25.

The Bangko Sentral ng Pilipinas (BSP) has approved the reporting, finance and transaction guidelines for the country’s Islamic banking sector to “provide clarity”.

The Bangko Sentral ng Pilipinas’s (BSP) Monetary Board kept the benchmark overnight reverse repurchase (RRP) rate at two percent during its monetary policy meeting on Thursday, March 24, in favor of a recovering economy.

The central bank’s auction of term deposit facility (TDF) on Wednesday, March 23, attracted higher bids of P514.85 billion against offer of P370 billion while the weighted average interest rate (WAIR) for both tenors declined.

The Bangko Sentral ng Pilipinas (BSP) is requiring a stronger, more adequate IT and cybersecurity risk management practices in banks and non-banks’ use of application programming interfaces (API) and its interconnections.

The Bangko Sentral ng Pilipinas (BSP) advised the public to exchange or deposit “unfit” coins as part of its campaign to promote and improve its use and circulation.

The Bangko Sentral ng Pilipinas (BSP) has recommended eight more supplementary control measures to fight against cyber fraud and to prevent attacks on retail electronic payments and financial services.

For a disaster-prone country, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said financial institutions, especially those in rural areas, should invest in satellite technology such as very small aperture terminals (VSATs) to be able to restore operations immediately after a calamity.

The Duterte administration has “successfully” completed its three-tranche foreign commercial borrowing on the back of volatile financial markets overseas, the Bureau of the Treasury announced.

The Bankers Association of the Philippines (BAP) has a more positive industry outlook for 2022 despite lingering pandemic-related obstacles and the challenges of a recovering global and local economy, geopolitical tensions and a new Philippine president by mid-year.

The Bangko Sentral ng Pilipinas (BSP) said it is pursuing more aggressively the prevention of counterfeiting or the production of fake banknotes in the country.

The Duterte administration will sell fresh debt papers to overseas investors, including the government’s maiden green bond issue, a document from the Bureau of the Treasurer revealed.

Banks’ loan releases as alternative compliance to the reserve requirement (RR) totalled P270.9 billion in the first week of February, up from January’s P262.4 billion as loans to large enterprises increased, according to central bank data.

BSP profits jump 32% in 2021

Loan releases by State-run Government Service Insurance System (GSIS), the pension fund for government workers, jumped to P151 billion in 2021, driven mainly by support to members who have reached borrowing limit and unable to pay loans.