Pawnshops reported P45 billion worth of pledge loans in 2020, down by 4.25 percent compared to 2019’s P47 billion due to the pandemic lockdowns, according to Bangko Sentral ng Pilipinas (BSP) officials. BSP Governor Benjamin E. Diokno said however that despite the restrictions of the community...
The Bangko Sentral ng Pilipinas’ (BSP) five-only digital banks is not a long-term limit and can be lifted depending on demand and requirement, according to BSP Governor Benjamin E. Diokno. “At the moment our policy is to consider among applicants the top five banks that we are willing to...
As the only country in the world with a constraining deposits secrecy law, the Bangko Sentral ng Pilipinas (BSP) will request President Duterte to certify the proposed measures on Bank Secrecy Law as urgent, particularly the BSP’s version of the law as House Bill No. 8991. BSP Governor Benjamin...
The central bank’s term deposit facility (TDF) were oversubscribed on Wednesday but yields continue to fall in normalizing conditions, according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila Jr. “The TDF auction results continue to show normal market conditions amid...
The peso closed lower  at P48.45 to the US dollar Wednesday, ( April 21) from P48.32  the previous day.   The weighted average rate depreciated to P48.388 from P48.302. Total volume amounted to $797.4  million, according to the Bankers Association of the...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno expects the country’s gross international reserves (GIR) to climb to $120 billion this year which is $6 billion more than what the BSP announced last month as forecast. Diokno sees a higher GIR than its forecast of $114 billion for...
The Bangko Sentral ng Pilipinas (BSP) will require domestic systemically important banks or D-SIBs to submit independently their recovery plans and Internal Capital Adequacy Assessment Process (ICAAP), and to ensure these documents have consistency and coherence. BSP Governor Benjamin E. Diokno...
Two banks are interested to set up in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) as the Philippines has become an attractive location following the issuance by the Bangko Sentral ng Pilipinas of key regulatory framework and licensing of Sharia governance and tax neutrality. ...
The peso closed higher at P48.32 to the US dollar Tuesday, (April 20)  from P48.35 the previous.  The weighted average rate appreciated to P48.302 from P48.399. Total volume amounted to $684.6 million, according to the Bankers Association of the Philippines.
The faster recovery in more advanced economies and possible early start towards normalization will not necessarily translate to a similar monetary policy stance for the Philippines which intends to keep interest rates low in support of growth, according to Bangko Sentral ng Pilipinas (BSP) Governor...
The peso closed higher at P48.35 to the US dollar Monday, (April 19) from P48.38 last Friday. The weighted average rate depreciated to P48.399 from P48.393. Total volume amounted to $784.3 million, according to the Bankers Association of the Philippines.
Banks have allocated P148 billion new loans to micro, small and medium enterprises (MSMEs) as of end-February as alternative compliance to the reserve requirements (RR) of the Bangko Sentral ng Pilipinas (BSP). As part of relief measures to cope with the effects of the COVID-19 pandemic, the BSP...
