The Bangko Sentral ng Pilipinas (BSP) has revealed a new logo, replacing the 10-year old current logo. This will be the third time since the 1993 New Central Bank Act charter created the BSP that its logo has been changed. The current logo was introduced in 2010. The BSP said the new logo is...
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) cut the overnight reverse repurchase (RRP) facility by 25 basis points (bps) to two percent – the lowest policy rate on BSP record -- to boost market confidence and in support of economic recovery amid uncertainties of a...
Philippine banks are not only strong but resilient enough to withstand the pandemic-hit financial market and to help prop up an economy in recession, said Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. “While the impact is still unfolding, the good news is that the financial...
Asian central banks and financial regulators agreed to focus on managing systemic risk to ensure financial stability during this COVID-19 pandemic. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno, who co-chaired the Financial Stability Board’s (FCB) Regional Consultative Group for...
The 28-day Bangko Sentral ng Pilipinas (BSP) bills auction yielded lower rate of 1.9621 percent, but it still remained oversubscribed with full P60 billion offer awarded. Banks’ total tenders reached P88.90 billion which was 1.48 times the offer volume of P60 billion. The average rate fell by...
Big banks’ lending growth further weakened to just 2.8 percent in September from an already low of 4.7 percent in August, the Bangko Sentral ng Pilipinas (BSP) said. Domestic liquidity or M3, in the meantime, expanded by 12.3 percent year-on-year to P13.5 trillion in September, a slower pace of...
To ensure stability of the financial system, the Bangko Sentral ng Pilipinas (BSP) is adopting stronger cybersecurity and digital financial supervision to support the digital transformation of all BSP-supervised financial institutions (BSFIs). “The COVID-19 pandemic has magnified our reliance on...
The Bangko Sentral ng Pilipinas (BSP) is in the last stage of sifting through the rules and regulation of digital banking in the country and could start issuing licenses earlier than expected. In a recent update, BSP Governor Benjamin E. Diokno said they have almost wrapped up all the loose Bangko...
Credit card users will have lower billing statements after November 3 with the adoption of ceilings on interest rate, finance charges and fees on all credit card transactions. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno ( Bloomberg ) “Starting on this date, interest or finance...
The central bank’s Senior Bank Loan Officers’ Survey (SLOS) for the third quarter showed banks continue to indicate “tighter” and unchanged overall credit standards for loans to enterprises and households. The SLOS reported that for loans to enterprises, the banks that have tighter lending...
The Bangko Sentral ng Pilipinas (BSP) is set to print the first five million of the national ID cards this year, beginning in November. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno ( Bloomberg ) “Finally, it will soon to be a reality,” said BSP Governor Benjamin E. Diokno after...
The Bangko Sentral ng Pilipinas (BSP) is proposing to streamline the licensing and relax the independence requirements for securities custodians to increase the number of capital market players. The BSP wants to delete the term “third party” that refers to third party custodianship, and the...
