At least five banks are expected to apply for digital bank license this month, the first batch of applicants after the Bangko Sentral ng Pilipinas (BSP) approved the digital banking framework last week. “So far, about five have signified intention to apply for a digital bank license,”...
The Bangko Sentral ng Pilipinas’ (BSP) foreign exchange (FX) swaps totalled $4.16 billion in September, keeping a steady position from $4.49 billion in August. The FX swaps from July to August has a bigger increase of $1.67 billion compared to August to September, based on data from the BSP. The...
The Bangko Sentral ng Pilipinas (BSP) has extended by another year or up to 2023 the transitory period for the certification of marketing personnel authorized to sell unit investment trust funds (UITF). The previous transitory provision for existing UITF marketing personnel to be...
The country’s external debt service burden decreased by 11.11 percent to $4.934 billion as of end-August from $5.551 billion same time last year, according to the Bangko Sentral ng Pilipinas (BSP). Debt service burden is payment made to both principal and interest on both the public and...
The Bangko Sentral ng Pilipinas’ (BSP) auction of 28-day BSP bills were still oversubscribed and fetched a lower rate last Friday. “Market interest remained strong,” according to BSP Deputy Governor Francisco G. Dakila Jr. The BSP offered P60 billion, same as last November 20, and...
The Bangko Sentral ng Pilipinas (BSP) said November inflation could hit a high of 3.2 percent from 2.5 percent in October due to the impact of bad weather on the supply and prices of food. The BSP forecasts a range of 2.4 percent to 3.2 percent for the November consumer price index. “Higher...
The Philippines has a balance of payments (BOP) surplus of $10.31 billion for the first 10 months, after a big $3.44 billion surplus in October, the Bangko Sentral ng Pilipinas (BSP) reported Thursday. The end-October BOP surplus was higher compared to same time last year of $5.73 billion. It was...
The Bangko Sentral ng Pilipinas (BSP) has approved the framework for digital banking in the country, creating a seventh bank category. “Digital banks will play an important role in the digital financial ecosystem,” said BSP Governor Benjamin E. Diokno in a statement Thursday. These banks, he...
For the first time during the pandemic, the Bangko Sentral ng Pilipinas (BSP) reported $439.46 million of foreign portfolio investments or hot money net inflows in October, reversing the $493.65 million net outflows in September and all other months of fund withdrawals since March this year when...
The central bank’s auction of term deposit facility (TDF) remained oversubscribed while yields dropped after the Monetary Board’s 25 basis points (bps) policy rate cut last week. Data from the Bangko Sentral ng Pilipinas (BSP) showed P602.03 billion tenders were submitted versus offer of P460...
The Bangko Sentral ng Pilipinas (BSP) has done enough and should be more careful in dispensing monetary stimulus or risk financial instability, according to an ex-central bank official. “Monetary policy should guard against itself,” said former BSP Deputy Governor Diwa C. Guinigundo,...
Focuses on non-inflationary growth Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno is ensuring a smooth normalization process as the Philippine shifts to the pandemic-induced “New Economy”, balancing money and credit growth, fiscal stimulus, low interest rates in a...
