Wala Lang Small pieces of paper, tiny bits of metal—neither is edible nor useful but people work, fight, kill for them. Paper money and coins are the subject of Yaman: History and Heritage in Philippine Money , a weighty tome just published by the Bangko Sentral ng Pilipinas. Authored by...
The Securities and Exchange Commission (SEC) is supporting moves to amend Republic Act No. 1405, or the Secrecy of Bank Deposits Law, to reinforce the country’s fight against money laundering, terrorist financing, tax evasion and other financial crimes. The amendments put forward under House Bill...
OF SUBSTANCE AND SPIRIT Diwa C. Guinigundo It was good for the Bangko Sentral ng Pilipinas to shift the release of Financial Stability Report (FSR) from annual to semestral beginning second semester of 2020. There is a dearth of reliable and timely information that the Filipino public could trust,...
As prime movers of a country’s economy, financial institutions thrive on public trust and confidence. Individuals and organizations entrust the safekeeping of their money to banks that also provide loans to support the growth and viability of business enterprises. At all times with or...
Debt-watcher S&P Global’s affirmation of the Philippines’ investment grade status is a vote of confidence in the country’s medium-term growth prospects despite challenges posed by COVID-19, the government’s chief economic manager and central bank governor said. Finance Secretary Carlos...
From the standpoint of the Bangko Sentral ng Pilipinas (BSP), the current COVID-19 pandemic is a “most opportune teachable moment.” Despite disrupting the rhythm and tempo of Filipinos’ daily lives, the acceleration of digital transformation has also fast-tracked their ability to comprehend...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they are about to issue “second-phase regulation” to make the banking sector more responsive to risks in transitioning to a low-carbon economy including climate change scenarios. “Banks may gradually consider the future...
The Bangko Sentral ng Pilipinas (BSP) has issued the guidelines on the management of liquidity risk by Islamic banks and Islamic banking units (IBUs) to attract investments and consumer interests in Islamic banking and finance. The Monetary Board approved Circular No. 1116 Tuesday, (May 25) which...
The Bangko Sentral ng Pilipinas (BSP) said it has processed some P42.8 billion worth of local government unit (LGU) loans in the last half of 2020. All LGUs must send requests for Monetary Board opinion before they could transact their planned domestic borrowings. For the second semester of 2020,...
The country’s current account surplus reached an all-time high of $12.979 billion in 2020, reversing the $3.047 billion shortfall in 2019, based on Bangko Sentral ng Pilipinas (BSP) data. The current account surplus – which is a record high based on BPM6-series and not comparable to older...
Tonik, Southeast Asia’s first digital-only bank, launches as the first neobank in the Philippines today. Tonik brings to the market a revolutionary and completely branchless way of banking on a highly secure mobile platform that sets out...
Senator Sonny Angara is pushing for the measure seeking to increase the deposit insurance coverage provided for by the Philippine Deposit Insurance Corp. (PDIC). Sen. Sonny Angara (Alexis Nueva España / Senate PRIB / FILE PHOTO) With more Filipinos now putting their money in banks, Angara said the...
