Sen. Mark Villar reiterated the need for the passage of the Anti-Financial Account Scamming Act (AFASA) that would, not only provide for a penalty after the fact, but one that effectively responds to or even prevent criminals from facilitating various forms of financial scams. Sen. Mark Villar...
The Bangko Sentral ng Pilipinas (BSP) reported that both domestic liquidity (M3) and bank lending grew last November and in the first 11 months of 2023. Preliminary data from the BSP showed that M3 grew by 7.0 percent year-on-year to about P16.8 trillion in November from 8.1 percent (revised) in...
The Philippines saw a significant 29.6 percent drop in foreign direct investment (FDI) with net inflows of $655 million in October 2023 from the $930 million net inflows registered in the same month in 2022. The October figure has brought cumulative net FDI inflows for the period...
The gross non-performing loans (NPL) ratio of Philippine banks dropped to 3.41 percent in November 2023 after rising to 3.44 percent in the previous month. Bangko Sentral ng Pilipinas (BSP) data show, though that the latest NPL ratio is higher compared to the 3.35 percent registered in the...
The Bangko Sentral ng Pilipinas (BSP) has included OmniPay, Inc. in the roster of financial institutions that settle high value transactions safely and instantly through the BSP-owned and operated PhilPaSSplus. In a statement, the BSP said OmniPay, Inc. became the first non-bank electronic...
The Bangko Sentral ng Pilipinas (BSP) has further reduced the rates on its peso rediscounting facility effective Jan. 9, 2024. Rediscounting is a BSP credit facility extended to qualified banks with active rediscounting lines. The facility helps banks meet their temporary liquidity needs by...
BSP forges partnership with BAIPHIL By JAMES A. LOYOLA The Bangko Sentral ng Pilipinas (BSP) and the Bankers Institute of the Philippines (BAIPHIL) have formalized their longstanding partnership with the signing of a memorandum of understanding (MOU). “The collaboration of BSP and BAIPHIL will go...
The Financial Stability Coordination Council (FSCC), which is led by the Bangko Sentral ng Pilipinas (BSP), is placing the strengthening the Philippine corporate bond market high on its list of priorities for 2024. The FSCC includes the Department of Finance, the Insurance Commission, the...
The action taken by the Bangko Sentral ng Pilipinas (BSP) on allowing banks to expand green financing facilities is expected to accelerate renewable energy (RE) installations in the country that will usher in comprehensive decarbonization of the Philippine economy moving forward. As cited by Energy...
The Bangko Sentral ng Pilipinas (BSP), through a Monetary Board Resolution, has approved the planned merger of Bank of the Philippine Islands (BPI) and Robinsons Bank Corporation (RBC). In a disclosure to the Philippine Stock Exchange (PSE), Ayala-led BPI said that the BSP approved the merger...
Finance Secretary Benjamin E. Diokno believes that borrowing costs in the country have hit a ceiling. On the sidelines of the Retail Dollar Bond 2 listing on the Philippine Dealing and Exchange Board on Monday, Nov. 6, Diokno stated that there is no rationale to warrant a further increase in...
Benchmark yields for short-term loans were significantly higher this week amid the policy rate increase forcing the Bureau of the Treasury to partially borrow. At Tuesday's auction of Treasury bills on Oct. 31, the national government raised a total of P12.75 billion, below the P15 billion program....
