The Bangko Sentral ng Pilipinas (BSP), still not offering 28-day term deposit facility (TDF) this week, received oversubscribed tenders of P518.88 billion versus offer of P490 billion. The Wednesday auction for the 7-day tenor attracted P225.95 billion bids against a P220 billion offering...
The local stock market recovered from early profit taking due to the improvement in COVID-19 numbers as well as prospects of a US stimulus package. Traders work beneath an electronic ticker at the trading floor of the Philippine Stock Exchange in Bonifacio Global City (BGC).(Bloomberg file photo)...
The peso closed  lower at P48.60 to the US dollar Thursday  from P48.585  the previous day. The weighted average rate depreciated  to P48.59  from P48.589. Total volume amounted to $614.4  million, according to the Bankers Association of the...
The Bangko Sentral ng Pilipinas (BSP) is giving banks more time to submit a transition analysis on the management of interest risk in the banking book (IRRBB) that will include how they will handle stress due to changes in IRRBB exposures. MB File The circular on IRRBB was approved by the Monetary...
Keeps accommodative policy MB File Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said he is seeing continued demand for loans and banks’ “appetite” to lend despite that loan growth slowed in August because of risk aversion during the pandemic. Big banks’ outstanding loans as...
The peso closed P48.60 to the US dollar today, higher from P48.625 last Friday, according to the Bankers Association of the Philippines. The weighted average rate appreciated to P48.578 from P48.634. Total volume amounted to $508.41 million.
The central bank wants digital bank players that will be “tenacious” or strong enough to withstand risks such as fraud and cyberattacks, and that these online-only banks will last a long time. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno ( Bloomberg ) “We will put...
The quick recovery of foreign direct investments (FDI) following the strict lockdowns signalled investors’ favorable long-term prospects for the Philippines, the Department of Finance (DOF) said. Finance Undersecretary Gil S. Beltran Based on Finance Undersecretary Gil S. Beltan’s latest...
The Philippine National Bank (PNB) is thinking of putting up a digital bank either as a subsidiary or stand-alone unit, according to its president and CEO Jose Arnulfo “Wick” Veloso. PNB president and CEO Jose Arnulfo “Wick” Veloso “We’re discussing internally with the...
The central bank’s auction of 28-day securities fetched a higher rate on Friday, it remained oversubscribed as the only 28-day offering this week after the Bangko Sentral ng Pilipinas (BSP) put aside the 28-day term deposit facility (TDF). The BSP bills received P129.1 billion tenders...
The Bangko Sentral ng Pilipinas (BSP) dropped the 28-day tenor this week and shifted the volume to the two remaining term deposit facility (TDF). During Wednesday’s TDF auction, the BSP offered P470 billion, down from P480 billion last week. Total bids reached P574.19 billion. The 7-day TDF has...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they will consider the possibility of further relaxing and reducing the minimum liquidity ratio (MLR) of thrift banks from the current 16 percent. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno ( Bloomberg ) “We...
