The Bangko Sentral ng Pilipinas (BSP) has improved its rules on banks’ management of human resource-related risk – which it calls “people risk” – and issued guidelines on Know Your Employee (KYE) policies and practices to tighten controls on deposit accounts. BSP Governor Benjamin E....
The Bangko Sentral ng Pilipinas (BSP) is proposing to allow banks to set up their own satellite broadband similar to Bank Rakyat of Indonesia's $250 million satellite for its digital or branchless operations. BSP Governor Benjamin E. Diokno, the Duterte administration’s former budget chief, has...
Credit cardholders will pay lower credit card dues for the entire year after the Bangko Sentral ng Pilipinas (BSP) extended the two-percent per month or 24 percent per year ceiling on interest rate or finance charge on unpaid outstanding credit card balance. BSP Governor Benjamin E. Diokno (Credit:...
The Bangko Sentral ng Pilipinas (BSP) issued a clarification Monday that there will be no grace period for loan payments during the seven-day enhanced community quarantine (ECQ) status while on Holy Week break. The BSP told banks who made the inquiry that the 30-day grace period under the Bayanihan...
Inflation rate forecasts upgraded The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) kept its policy rate at two percent during Thursday’s policy meeting but it raised its inflation rate forecasts for 2021 and 2022 due to rebounding oil prices as the world economy recovers. This is...
The Bangko Sentral ng Pilipinas (BSP), which has returned to stricter health protocols with the recent increase in COVID-19 cases, is reminding banks to do the same while movement restrictions are in place to stem the more infectious virus-variants transmission. Most banks, especially big banks,...
The Bangko Sentral ng Pilipinas (BSP) will likely consider the withdrawal of COVID-19 monetary and banking policy interventions after mid-2022 when the economy is expected to have returned to pre-pandemic growth levels, and assuming herd immunity against the virus has been achieved around the same...
The Bangko Sentral ng Pilipinas (BSP) has increased the number of national IDs it will print this year to 70 million from the previous target of 45 million, according to its highest-ranking official. “BSP is committed to deliver the card volume requirements of the PSA (Philippine Statistics...
Philippines’ foreign assets reached $109.082 billion as of end-February, higher than $108.673 billion in January, the Bangko Sentral ng Pilipinas (BSP) reported. The gross international reserves or GIR, which are invested in foreign-issued securities, monetary gold, and foreign exchange, is 11.7...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said Thursday that the inflation rate will reach its peak in the second quarter months of April to June and that so far, there is limited evidence of second-round effects. A vegetable seller tends to a client at Paco Market. A vegetable...
Foreign direct investments (FDI) last year dropped 24.6 percent to a net inflow of $6.542 billion from $8.671 billion in 2019, but it was more than the Bangko Sentral ng Pilipinas’ (BSP) $6-billion projection for 2020. “The disruptive impact of the pandemic on global supply chains and the weak...
Local share prices rose on continued bargain hunting on the back of gains in the US bourses overnight. Photo credit: PSE Information Desk The main index advanced 41.49 points or 0.61 percent to close at 6,808.32 with only the Financials and Mining and Oil counters retreating. A total of 9.14...
