A Bangko Sentral ng Pilipinas (BSP) new guidelines are providing banks with the capability to control and manage hits and threats to their reputation as trusted financial institutions and to avoid triggering systemic risks amid the still raging global health crisis. “As the financial sector...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the Philippines, as one of the International Monetary Fund’s (IMF) creditor-member, will build-up its “statistical citizenship” to strengthen its surveillance system and to communicate the country’s good credit standing. A...
The peso closed higher at P48.38 to the US dollar Friday, (April 16) from P48.44 the previous day. The weighted average rate appreciated to P48.393 from P48.479. Total volume amounted to $950.11 million, according to the Bankers Association of the Philip-pines.
The central bank reported Friday, (April 16) that gross international reserves (GIR) is 0.32 percent lower at the end of the first quarter (end-March) to $104.820 billion from $105.161 billion in February. Compared to same period in 2020 of $88.861 billion, GIR was up 18 percent or by $15.959...
The Bangko Sentral ng Pilipinas (BSP) has improved its rules on banks’ management of human resource-related risk – which it calls “people risk” – and issued guidelines on Know Your Employee (KYE) policies and practices to tighten controls on deposit accounts. BSP Governor Benjamin E....
The Bangko Sentral ng Pilipinas (BSP) is proposing to allow banks to set up their own satellite broadband similar to Bank Rakyat of Indonesia's $250 million satellite for its digital or branchless operations. BSP Governor Benjamin E. Diokno, the Duterte administration’s former budget chief, has...
The peso closed higher at P48.44 to the US dollar Thursday, (April 15) from P48.499 the previous day.    The weighted average rate appreciated to P48.479 from P48.50. Total volume amounted to $699.65 million, according to the Bankers Association of the Philippines.
Overseas Filipinos remitted $2.477 billion via banks in February, it’s 5.1 percent higher compared to same time last year of $2.358 billion, the Bangko Sentral ng Pilipinas (BSP) said Thursday, (April 15). Compared to January, cash remittances was lower by 4.84 percent or from $2.603 billion....
The peso closed higher at P48.499 to the US dollar Wednesday, (April 14)   from P48.555 the previous day.    The weighted average rate appreciated to P48.50 from P48.554. Total volume amounted to $664.35 million, according to the Bankers Association of the Philippines.
The central bank’s term deposit facility (TDF) attracted lower bids this week but still oversubscribed at P634.78 billion versus offer of P490 billion. TDF yields continued to decrease, based on Bangko Sentral ng Pilipinas (BSP) auction results. The 7-day TDF, offered at P140 billion, received...
Loans and advances released by the central bank to its supervised financial institutions amounted to P130.9 billion by end-fourth quarter 2020, down by 34.61 percent year-on-year or from P200.2 billion. The Bangko Sentral ng Pilipinas (BSP), which extends loans and advances to banks with liquidity...
The country’s net foreign direct investment (FDI) inflows went up by 41.5 percent year-on-year in January to $961 million from $679 million same time in 2020, the Bangko Sentral ng Pilipinas (BSP) said. “This development reflects the investors’ optimism at the start of the year due in turn to...
