All the six financial service providers (FSPs) that were tapped in 2020 to undertake digital electronic disbursement of second tranche of emergency cash subsidies under Social Amelioration Program (SAP) through restricted transactional accounts hurdled the Bangko Sentral ng PIlipinas’ (BSP)...
The Bangko Sentral ng Pilipinas (BSP) said it is improving its stress testing exercises to make it more granular to strain each bank’s risks or exposures. The BSP in a report said it could be crucial to have a more granular review and assessment of the COVID-19 pandemic’s impact on individual...
As the Bangko Sentral ng Pilipinas (BSP) celebrates its 28th anniversary today, it is proud that it has become “greener” and has embraced the principles of sustainable development. Last year, when the BSP too was in lockdown, its officials started drafting its pandemic-proof Sustainable Central...
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,...
