The Bangko Sentral ng Pilipinas (BSP) is planning on putting up an electronic or e-money protection fund in case the bank or non-bank holding the e-money has liquidity issues. The BSP is currently studying the e-money fund protection scheme and is expected to soon release findings and...
State-run Philippine Deposit Insurance Corp. (PDIC) said it posted a double-digit growth in deposit insurance fund (DIF) last year and fully settled all valid claims within the target turnaround time (TAT). In a report submitted to Finance Secretary Carlos G. Dominguez III, PDIC President Roberto...
Hike in deposit insurance The Department of Finance (DOF) said it is supporting the proposed measure seeking to increase the deposit insurance coverage provided for by the Philippine Deposit Insurance Corp. (PDIC) and the removal of the latter’s regulatory function. Finance Secretary Carlos G....
Tonik, Southeast Asia’s first digital-only bank, launches as the first neobank in the Philippines today. Tonik brings to the market a revolutionary and completely branchless way of banking on a highly secure mobile platform that sets out...
Senator Sonny Angara is pushing for the measure seeking to increase the deposit insurance coverage provided for by the Philippine Deposit Insurance Corp. (PDIC). Sen. Sonny Angara (Alexis Nueva España / Senate PRIB / FILE PHOTO) With more Filipinos now putting their money in banks, Angara said the...
The Bangko Sentral ng Pilipinas’ (BSP) total loans and advances to banks by end-November 2020 increased to P680.76 billion, or 3x more than what was reported same period in 2019. The surge in the BSP loans and advances were reported in June up to November last year, compared to declines recorded...
State-run Philippine Amusement and Gaming Corp. (Pagcor) has remitted additional funds to the Bureau of the Treasury for the government’s efforts in curbing the spread of COVID-19 and providing economic relief. In a statement, Recto Baltazar Jr., Pagcor vice-president, said the gaming regulator...
