It will take as long as two years before the Philippines can be taken out of the “grey list” of dirty money watchdog Paris-based Financial Action Task Force (FATF), according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. Diokno said the Philippines’ delisting from the grey...
The Philippines is again placed in the “grey list” of Paris-based Financial Action Task Force (FATF), one of 22 countries found with serious Anti-Money Laundering and Combatting the Financing of Terrorism (AML/CFT) deficiencies, which raises the risk of “dirty money” transactions on trade...
The Bangko Sentral ng Pilipinas (BSP) has decided to keep its benchmark overnight rate at two percent during Thursday’s fourth Monetary Board policy meeting for the year because economic recovery remains “tentative” in terms of momentum, said BSP Governor Benjamin E. Diokno. 14826 “(The)...
The Bangko Sentral ng Pilipinas (BSP) auction of term deposit facility (TDF) this week attracted lower average rates ahead of the BSP’s monetary policy meeting on Thursday (June 24). The BSP offered lower TDF volumes this week of P520 billion from the previous week’s P530 billion. The total...
The central bank reported a higher balance of payments (BOP) deficit of $1.627 billion in the first five months after incurring a $1.397 billion shortfall for the month of May. The end-May BOP deficit is a reversal of the $4.029 billion surplus recorded in the same period last year. The Bangko...
WORKERS busy constructing the planetarium in El Salvador City, Misamis Oriental. (Misamis Oriental PIO) CAGAYAN DE ORO CITY (PNA) – The first planetarium in Mindanao that costs P50 million will be finished by August, according to the provincial government of Misamis Oriental Wednesday, June...
The Bangko Sentral ng Pilipinas (BSP) is expecting a bigger balance of payments (BOP) surplus of $7.1 billion in 2021 compared to its previous projection (March) of $6.2 billion. The 2022 BOP surplus estimate is however revised lower to $2.7 billion versus previous forecast of $3.8 billion. The...
The Commission on Audit has revealed that the Cavite provincial government may have put to risk the health benefits and loan payments of its employees by failing to pay on time mandatory premium contributions to the Government Service Insurance Corporation, Philippine Health Insurance Corporation...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said changes in the labor market brought on by the public health crisis will continue to drive wage dynamics in the near term, and it will require extra vigilance in monitoring its impact on inflation. “For this reason, the BSP will...
The country’s ‘too big to fail’ banks continue to be strong and well-capitalized as well as liquid with stable funding to support operations in the second year of the COVID-19 pandemic, assured Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. Diokno only reiterated what he said...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said there is no need to alter or revise the Currency Risk Protection Program (CRPP) which allow banks to hedge their eligible foreign currency obligations. “We have not seen the need to further update or expand the hedging facility...
Bangko Sentral ng Pilipinas (BSP)-led Financial Stability Coordination Council (FSCC), which has just identified the country’s servicing of debts and credit-related risks as red flags to potential systemic issues, is strongly pursuing the signing of a proposed executive order (EO) to empower the...
