Multisectoral groups, comprising of 51 largest and widely-represented private sector associations, have urged for the immediate enactment of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill to boost market confidence, save jobs and provide instant relief to businesses’...
The musician then involves Bryan Boy and Dr. Aivee Teo into the brawl Fashion influencer Aimee Song and musician Azealia Banks Not even a week into January and people are already feuding! What sparked the fight? Fashion influencer Aimee Song calls out rapper Azealia Banks for her remarks toward...
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. Based on data from the Bangko Sentral ng Pilipinas (BSP), the 28 financial...
With increased online transactions due to the holidays, the Bangko Sentral ng Pilipinas (BSP) is reminding banks to remain vigilant against cyber attacks, specifically phishing or the fraudulent acquisition of sensitive data or information. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E....
The Bangko Sentral ng Pilipinas (BSP) is allowing universal and commercial banks to electronically submit six foreign exchange (FX) transaction documents to lessen risks of COVID-19 transmission in the handling of hardcopy. Based on a new memo (BSP Memorandum Order No. M-2020-089) that BSP Deputy...
The Bangko Sentral ng Pilipinas (BSP) is proposing the creation of an Open Finance Oversight Committee (OFOC), an industry-led self-governing body, as part of the country’s open finance framework. BSP Governor Benjamin E. Diokno ( Bloomberg file photo) Based on the draft circular on open finance,...
BSP Governor Benjamin E. Diokno (FILE Bloomberg) The Bangko Sentral ng Pilipinas (BSP) said it may require all banks with digital banking services to apply for the appropriate digital bank license based on a new circular’s transitory provision. “Existing banks may apply for conversion to a...
The 16 percent minimum liquidity ratio (MLR) for stand-alone thrift, rural and cooperative banks has been extended until December 31, 2021, a year longer from its previous ending date of end-2020, based on a Bangko Sentral ng Pilipinas (BSP) memorandum. Bangko Sentral ng Pilipinas (BSP) Governor...
With banks’ higher provisioning requirements, the industry continue to have lower cumulative net profits as of end-September of P126.78 billion, down 25.93 percent from same period last year of P171.16 billion, based on Bangko Sentral ng Pilipinas (BSP) data. The pandemic-hit banking system...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they will consider the possibility of further relaxing and reducing the minimum liquidity ratio (MLR) of thrift banks from the current 16 percent. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno ( Bloomberg ) “We...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they will consider the possibility of further relaxing and reducing the minimum liquidity ratio (MLR) of thrift banks from the current 16 percent. “We will reassess this level based on prevailing market conditions as well as...
An applicant digital bank in the Philippines will be required to have a minimum capitalization of P1 billion, according to a revised Bangko Sentral ng Pilipinas (BSP) proposed guidelines on the setting up of digital banks. This was higher than earlier proposed of P400 million for a basic digital...
