The central bank’s auction of term deposit facility (TDF) this week still show an oversubscription but banks’ demand for the longer tenor, the 14-day, surpassed the 7-day TDF. “There was a notable shift of preference to the longer tenor as the 7-day TDF was undersubscribed with 0.86x...
The Bangko Sentral ng Pilipinas (BSP) is in the last stage of sifting through the rules and regulation of digital banking in the country and could start issuing licenses earlier than expected. In a recent update, BSP Governor Benjamin E. Diokno said they have almost wrapped up all the loose Bangko...
Credit card users will have lower billing statements after November 3 with the adoption of ceilings on interest rate, finance charges and fees on all credit card transactions. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno ( Bloomberg ) “Starting on this date, interest or finance...
BDO Unibank reported that its Trust Group has achieved the P1-trillion mark in assets under management (AUM) on the back of the strong performance of its unit investment trust fund (UITF) business. AUM is the total market value of the securities a financial institution manages on behalf of its...
The country’s external debt service burden was down 15.77 percent to $4.406 billion as of end-July from $5.231 billion same time last year, based on data from the Bangko Sentral ng Pilipinas (BSP). Debt service burden is principal and interest payments on both the public and private sector...
The Bangko Sentral ng Pilipinas’ (BSP) has absorbed P1.8 trillion of liquidity from banks as of the end of the third quarter, 20 percent more than what was mopped up in the second quarter. MB file photo. The BSP’s weekly auction...
The COVID-19 health crisis have shut down workplaces and schools at all levels, banned public gatherings, and for all intents and purposes interrupted normal life as we know it pre-pandemic, especially for adolescents who were not even allowed to leave the house. It was challenging but a...
The auction of Bangko Sentral ng Pilipinas (BSP) bills fetched a higher yield this week at 2.0367 percent or 0.94 basis point (bp) more than the previous 2.0273 percent, with tenders still exceeding the offer. The central bank offered P70 billion of 28-day BSP bills Friday, lower compared to...
In 2020-2022 (MANILA BULLETIN FILE PHOTO) The central bank’s September survey of private sector economists’ inflation expectations showed slightly higher mean inflation forecasts for 2020 and 2022 compared to the June survey. Based on the Private Sector Economists’ Inflation Forecasts,...
The central bank’s Senior Bank Loan Officers’ Survey (SLOS) for the third quarter showed banks continue to indicate “tighter” and unchanged overall credit standards for loans to enterprises and households. The SLOS reported that for loans to enterprises, the banks that have tighter lending...
The Bangko Sentral ng Pilipinas (BSP) is projecting the inflation rate to fall below the two-percent level for the last month of December extending up to January next year, but it is no reason to start adjusting interest rates. BSP Deputy Governor Francisco G. Dakila Jr. explained that inflation...
The Bangko Sentral ng Pilipinas (BSP) reported a net foreign portfolio investments outflows of $494 million in September, higher than the net outflows registered in August of $127 million. In September, total gross outflows amounted to $1.1 billion while gross inflows stood at $594 million. The BSP...
