The central bank said the country’s balance of payments (BOP) deficit is down to $231 million in the first four months on account of the $2.614 billion surplus recorded for the month of April. The BOP deficit improved from $2.844 billion at the end of the first quarter or as of...
Banks showed subdued appetite for the Bangko Sentral ng Pilipinas’ (BSP) auction of term deposit facility (TDF) this week with tenders amounting to P524.3 billion versus offer of P510 billion. “The BSP maintained the TDF offer volume at P510 billion and the distribution mix between the 7-day...
The central bank said banks have released an average of P174.9 billion new loans to micro, small and medium enterprises (MSMEs) as of mid-April as alternative compliance to the reserve requirement (RR) rule. Based on Bangko Sentral ng Pilipinas (BSP) data, this amount is 12 percent of total...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they are about to issue “second-phase regulation” to make the banking sector more responsive to risks in transitioning to a low-carbon economy including climate change scenarios. “Banks may gradually consider the future...
Banks’ non-performing loan (NPL) ratio will breach six percent by the end of 2021, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. NPL ratio which is currently at 4.21 percent end-March, while still considered manageable, is expected to “settle at slightly above six...
The peso closed lower at P48.065 to the US dollar Monday, (May 24) from P47.945 last Friday. The weighted average rate depreciated to P48.019 from P47.897. Total volume amounted to $937.64 million, according to the Bankers Association of the Philippines.
The central bank is not reimposing any limit on foreign borrowings by government and private sector at this time despite a projected increase in foreign debt. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said there is no need for the BSP to cap foreign borrowings as limits on...
The Bangko Sentral ng Pilipinas’ (BSP) securities or BSP bills were oversubscribed by 1.23x during last Friday’s auction with P135.10 billion bids versus offer of P110 billion. Both were higher compared to the previous week’s offer and tenders of P100 billion and P120.93 billion,...
Seventeen Asian countries including the Philippines have increased pre-emptive talks on how to deal with the diverging levels of COVID-related recoveries between advanced or rich economies such as the US and emerging markets. “The questions have sharpened as we now see clearer, but...
The Bangko Sentral ng Pilipinas’ (BSP) ambitious financial education (fin-ed) initiative is estimated to reach almost 60 million Filipino adults and students to be financially healthy and resilient especially in times of financial shocks such as during a public health crisis, according to BSP...
The central bank’s Monetary Board as of May 7 has reviewed and approved $15.5 billion worth of foreign borrowings for the government’s anti-pandemic projects and programs. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno reiterated on Thursday that despite the increasing debt...
The Bangko Sentral ng Pilipinas’ (BSP) auction of term deposit facility (TDF) received more bids this week especially for the 14-day tenor, while yields were mixed. The 14-day TDF, offered lower at P360 billion from P370 billion last May 12, attracted P408.12 billion tenders. This was higher...
