The central bank’s term deposit facility (TDF) auction received P622.44 billion in tenders this week versus offer of P480 billion. Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila Jr. noted the continued strong demand for the TDF which is only offered at 7-day and 14-day...
Big banks’ lending growth further weakened to just 2.8 percent in September from an already low of 4.7 percent in August, the Bangko Sentral ng Pilipinas (BSP) said. Domestic liquidity or M3, in the meantime, expanded by 12.3 percent year-on-year to P13.5 trillion in September, a slower pace of...
The central bank will no longer limit its rediscounting facility through a budget and instead adopted an “open regime” principle as a monetary policy tool to infuse liquidity to a pandemic-hit market. The Bangko Sentral ng Pilipinas (BSP) used to have a specific budget for its Peso Rediscount...
Debt payments of the national government ballooned in September after the Duterte administration repaid the bridge loan extended by the Bangko Sentral ng Pilipinas (BSP) for the coronavirus response. Data from the Bureau of the Treasury showed the government’s total debt servicing soared by 664...
The Bangko Sentral ng Pilipinas (BSP) has adequate room to maintain the low interest rate environment despite the uptick in inflation last October, the Department of Finance (DOF) said. In an economic bulletin, Finance Undersecretary Gil S. Beltran,...
The banking system remains on “solid footing” in terms of assets, loans, deposits, profitability, capital and liquidity buffers despite the COVID-19 health crisis, a report from the Bangko Sentral ng Pilipinas (BSP) said. “The impact of the pandemic on the overall condition and...
It has come to this. The Bangko Sentral ng Pilipinas (BSP) wants to make public their enforcement actions and criminal cases against erring banks and other supervised entities in the name of transparency and market discipline, deter banks...
The central bank has fully awarded the P60-billion volume it offered for this week’s auction of 28-day Bangko Sentral ng Pilipinas (BSP) bills and it had a lower yield and bid ratio. The BSP’s securities offering is lower than P70 billion last week. Tenders amounted to P121.72 billion, higher...
The Ty-controlled Metropolitan Bank and Trust Co. (Metrobank) is looking at a manageable non-performing loan (NPL) ratio of three percent by end-2020 from 2.25 percent in end-September. Metrobank senior vice president Jette Gamboa said the bank’s NPL ratio is within the industry’s outlook of a...
To ensure stability of the financial system, the Bangko Sentral ng Pilipinas (BSP) is adopting stronger cybersecurity and digital financial supervision to support the digital transformation of all BSP-supervised financial institutions (BSFIs). “The COVID-19 pandemic has magnified our reliance on...
The Bangko Sentral ng Pilipinas (BSP) is expected to keep the benchmark rate unchanged when it meets on November 19, the second to its last two Monetary Board policy meetings for the year. ING Bank, HSBC and Union Bank of the Philippines’ analysts all said that the Monetary Board will not...
Aboitiz-owned Union Bank of the Philippines (UnionBank) will consider applying for a digital bank license to support its agenda for financial inclusion. UnionBank chief financial officer Jose Emmanuel Hilado believes the bank is already a digital bank after years of digital transformation,...
