Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno expects the country’s gross international reserves (GIR) to climb to $120 billion this year which is $6 billion more than what the BSP announced last month as forecast. Diokno sees a higher GIR than its forecast of $114 billion for...
The Bangko Sentral ng Pilipinas (BSP) will require domestic systemically important banks or D-SIBs to submit independently their recovery plans and Internal Capital Adequacy Assessment Process (ICAAP), and to ensure these documents have consistency and coherence. BSP Governor Benjamin E. Diokno...
Two banks are interested to set up in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) as the Philippines has become an attractive location following the issuance by the Bangko Sentral ng Pilipinas of key regulatory framework and licensing of Sharia governance and tax neutrality. ...
The peso closed higher at P48.32 to the US dollar Tuesday, (April 20)  from P48.35 the previous.  The weighted average rate appreciated to P48.302 from P48.399. Total volume amounted to $684.6 million, according to the Bankers Association of the Philippines.
The faster recovery in more advanced economies and possible early start towards normalization will not necessarily translate to a similar monetary policy stance for the Philippines which intends to keep interest rates low in support of growth, according to Bangko Sentral ng Pilipinas (BSP) Governor...
The peso closed higher at P48.35 to the US dollar Monday, (April 19) from P48.38 last Friday. The weighted average rate depreciated to P48.399 from P48.393. Total volume amounted to $784.3 million, according to the Bankers Association of the Philippines.
Banks have allocated P148 billion new loans to micro, small and medium enterprises (MSMEs) as of end-February as alternative compliance to the reserve requirements (RR) of the Bangko Sentral ng Pilipinas (BSP). As part of relief measures to cope with the effects of the COVID-19 pandemic, the BSP...
A Bangko Sentral ng Pilipinas (BSP) new guidelines are providing banks with the capability to control and manage hits and threats to their reputation as trusted financial institutions and to avoid triggering systemic risks amid the still raging global health crisis. “As the financial sector...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the Philippines, as one of the International Monetary Fund’s (IMF) creditor-member, will build-up its “statistical citizenship” to strengthen its surveillance system and to communicate the country’s good credit standing. A...
The peso closed higher at P48.38 to the US dollar Friday, (April 16) from P48.44 the previous day. The weighted average rate appreciated to P48.393 from P48.479. Total volume amounted to $950.11 million, according to the Bankers Association of the Philip-pines.
The central bank reported Friday, (April 16) that gross international reserves (GIR) is 0.32 percent lower at the end of the first quarter (end-March) to $104.820 billion from $105.161 billion in February. Compared to same period in 2020 of $88.861 billion, GIR was up 18 percent or by $15.959...
The Bangko Sentral ng Pilipinas (BSP) has improved its rules on banks’ management of human resource-related risk – which it calls “people risk” – and issued guidelines on Know Your Employee (KYE) policies and practices to tighten controls on deposit accounts. BSP Governor Benjamin E....
