The peso closed  higher at P48.605  to the US dollar  Wednesday, ( Feb. 24),  from P48.64 the previous day. The weighted average rate  appreciated  to P48.637   from P48.701.  Total volume amounted  to  $1.187.3 billion, according to the Bankers...
The peso closed higher at P48.64 to the US dollar on Tuesday, (Feb. 23) from P48.70 the previous day. The weighted average rate depreciated to P48.701 from P48.562. Total volume amounted to $1.221.2 billion,...
The Bangko Sentral ng Pilipinas (BSP) will formally announce on Wednesday that financial digitalization and e-money expert, Mamerto E. Tangonan, a BSP outsider, is its new deputy governor. Tangonan, currently chief of party of the e-peso project of US Agency for International Development...
Philippine banks are expected to report a bad loans ratio of six percent this year while a return to profits pre-health crisis could come as late as 2023, according to credit watcher S&P Global Ratings. S&P Global in its latest report (Philippine Banks: Buffers Won't Hold If COVID...
Trade and Industry Secretary Ramon M. Lopez on Monday, (Feb. 22) urged the Bangko Sentral ng Pilipinas (BSP) to craft rules to encourage banks to lend more for auto loans stressing that banks have huge liquidity that they can use to help businesses recover. Trade and...
The Bangko Sentral ng Pilipinas (BSP) has started its comprehensive review and assessment of when to reduce or scale back the size of liquidity and COVID-19 relief measures to avoid financial distress post-pandemic. So far, the BSP has infused the financial system P2 trillion in liquidity, or about...
There was strong demand for the auction of 28-day Bangko Sentral ng Pilipinas (BSP) securities last Friday as bids were 1.72x oversubscribed, according to BSP Deputy Governor Francisco G. Dakila Jr. The BSP bills also fetched a higher yield of 1.6683 percent from the previous 1.6402 percent....
The enactment of the Financial Institutions Strategic Transfer (FIST) law, which is expected to free up over P1 trillion worth of banks’ soured loans and non-performing assets and assist 600,000 micro, small and medium enterprises (MSMEs), will ensure the stability of the local financial system...
The Securities and Exchange Commission (SEC) is seeking public comments for the draft Implementing Rules and Regulations (IRR) of Republic Act No. 11523 or the Financial Institutions Strategic Transfer (FIST) Act, a critical economic measure in the Philippines’ economic recovery. In a...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said there is no “trade-off” in maintaining an accommodative policy stance where there is low interest rate and increased money supply in the financial system. Diokno continued to assure the market that as far as BSP is concerned,...
The government’s continued movement restrictions will deter the country’s economic recovery this year, one of three major international credit rating agencies said on Thursday, Feb. 18. In a credit opinion, Moody’s Investors Service said that the Philippine economy, as measured by its...
The Bangko Sentral ng Pilipinas (BSP) will conduct data-gathering “baselining exercise” in aid of rules being drafted for banks and non-banks’ Data Governance and Ethical Use of Data, said BSP Governor Benjamin E. Diokno. “The baselining exercise will look into BSFIs’ (BSP supervised...
