Housing prices fell by 4.2 percent year-on-year in the first quarter, pulled down by a decline in the residential property prices in the National Capital Region (NCR) because of subdued demand during the pandemic, according to the Bangko Sentral ng Pilipinas (BSP). The BSP’s first quarter...
There are five foreign banks that are expected to apply for digital bank license with the Bangko Sentral ng Pilipinas (BSP) soon, according to a senior BSP official. “The BSP received expressions of interest (EOI) from around five foreign banks abroad and already operating in the country...
The auction of 28-day Bangko Sentral ng Pilipinas (BSP) securities attracted P135.73 billion bids, 1.36x more than offer of P100 billion. During Friday’s auction, the average rate of the BSP bills slightly moved up to 1.8158 percent from 1.8109 percent last June 18. “The weighted average...
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 independent Bangko Sentral ng Pilipinas (BSP) said it was President Benigno S. Aquino III who enabled the BSP to have a buffer by providing it finally after past presidents’ inaction – to be sufficiently capitalized in 2012. “The BSP deeply appreciates President Aquino’s support for...
The peso closed higher at P48.481 to the US dollar  Friday, (June 25)  from P48.735 the previous day. The weighted average rate appreciated to P48.57 from P48.838. Total volume amounted to $985.2 million according to the Bankers Association of the Philippines.
Mobile e-wallet GCash has 40 million Filipino users todate and continues building its user base reach at least half of the population, or 50 million, for a more inclusive financial ecosystem to fast-track economic recovery. Our partnerships with the private sector have provided us with a wide...
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 peso closed higher at P48.735 to the US dollar Thursday, (June 24)  from P48.805 the previous day. The weighted average rate depreciated to P48.838 from P48.791. Total volume amounted to $1.005.06 billion according to the Bankers Association of the Philippines.
OF SUBSTANCE AND SPIRIT Diwa C. Guinigundo Seals of approval for sovereigns like the Philippines are difficult to obtain. International financial institutions (IFIs), credit rating agencies (CRAs) and foreign investors would usually scrutinize our ability to withstand global shocks. While...
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...
