Tag page - BSP

The Bangko Sentral ng Pilipinas (BSP) is tightening its monetary penalty system on erring banks by imposing a maximum P1 million for each transactional violation or P100,000 per business day for continuing offense. The previous monetary penalty for banks and/or their directors and officers was...

The Bangko Sentral ng Pilipinas (BSP) will relax and further streamline its rules on foreign currency denominated transactions for banks’ effective risk controls, but are limiting the foreign currency deposit unit (FCDU) functions for certain banks such as digital and smaller banks. FCDUs are...

The Bangko Sentral ng Pilipinas (BSP) is expected to complete its review of two more local-owned banks applying for digital bank license next week, the last two slots for authorized digital banks in the country which has been limited to just seven banks. “There are two more in the pipeline. One...

The Bangko Sentral ng Pilipinas (BSP) will stop accepting digital bank license applications by next week and will close the window for three years after limiting the number of digital banks in the country to just seven.  “The judgment of the Monetary Board is that we will keep it close for...

The Bangko Sentral ng Pilipinas (BSP) has identified the Philippine Peso Real-Time Gross Settlement (PhP-RTGS) payment system, which it owns and operates, as a systemically important payment system (SIPS). This means the PhP-RTGS as SIPS is a payment system “which poses or has the potential to...

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said there is no target or limit in their green bonds investments as part of its strategic asset allocation (SAA). The SAA is applied to the country’s accumulated $106.5-billion gross international reserves (GIR), which Diokno said...

Banks have written off P4.943 billion of bad loans in the first six months of this year, up by 212.8 percent from only P1.436 billion same time in 2020. The 46 universal and commercial banks accounted for P4.920 billion of the total bad debts written off during the period, according to Bangko...

The banking sector reported cumulative net profits of P122.67 billion as of end-June, it grew by 42.88 percent year-on-year from P85.85 billion, based on Bangko Sentral ng Pilipinas (BSP) data. The recovering economy has pushed banks’ income to post modest growths despite the pandemic and the...

For the first time this year, banks’ non-performing loans (NPL) ratio slightly dipped to 4.48 percent in June, cutting off a steadily rising bad loans since January. The 4.48 percent NPL ratio is still a 12-year high, and the last time NPL ratio was near this level was January 2009 with 4.46...

The Bangko Sentral ng Pilipinas (BSP) said over the weekend that despite the no mandatory loan moratorium during the two-week hard lockdown, financial consumers and clients may still avail or seek relief measures from their respective banks. The two Bayanihan laws, which provided huge economic...

The peso closed  lower   at P49.75  to the US dollar Wednesday, (August 4) from P49.61 the previous day. The weighted average rate appreciated to P49.717  from P49.845. Total volume amounted to $1.041.45 billion according to the Bankers Association of the Philippines. 

The peso closed  lower  at P49.90  to the US dollar Monday  (August 2)  from P49.97 last Friday.  The weighted average rate appreciated to P49.998  from P50.223. Total volume amounted to $776.52 million according to the Bankers Association of the Philippines.