The Bangko Sentral ng Pilipinas (BSP) is proposing to allow banks to set up their own satellite broadband similar to Bank Rakyat of Indonesia's $250 million satellite for its digital or branchless operations. BSP Governor Benjamin E. Diokno, the Duterte administration’s former budget chief, has...
The peso closed higher at P48.44 to the US dollar Thursday, (April 15) from P48.499 the previous day.    The weighted average rate appreciated to P48.479 from P48.50. Total volume amounted to $699.65 million, according to the Bankers Association of the Philippines.
Overseas Filipinos remitted $2.477 billion via banks in February, it’s 5.1 percent higher compared to same time last year of $2.358 billion, the Bangko Sentral ng Pilipinas (BSP) said Thursday, (April 15). Compared to January, cash remittances was lower by 4.84 percent or from $2.603 billion....
The peso closed higher at P48.499 to the US dollar Wednesday, (April 14)   from P48.555 the previous day.    The weighted average rate appreciated to P48.50 from P48.554. Total volume amounted to $664.35 million, according to the Bankers Association of the Philippines.
The central bank’s term deposit facility (TDF) attracted lower bids this week but still oversubscribed at P634.78 billion versus offer of P490 billion. TDF yields continued to decrease, based on Bangko Sentral ng Pilipinas (BSP) auction results. The 7-day TDF, offered at P140 billion, received...
Loans and advances released by the central bank to its supervised financial institutions amounted to P130.9 billion by end-fourth quarter 2020, down by 34.61 percent year-on-year or from P200.2 billion. The Bangko Sentral ng Pilipinas (BSP), which extends loans and advances to banks with liquidity...
The country’s net foreign direct investment (FDI) inflows went up by 41.5 percent year-on-year in January to $961 million from $679 million same time in 2020, the Bangko Sentral ng Pilipinas (BSP) said. “This development reflects the investors’ optimism at the start of the year due in turn to...
The International Monetary Fund (IMF) is urging the Bangko Sentral ng Pilipinas (BSP) to strengthen its bank resolution and crisis management policy beginning with the “too big to fail” banks for early intervention and timely remedial action, making it easier to release emergency liquidity...
The auction of the Bangko Sentral ng Pilipinas (BSP) securities or bills continued to be oversubscribed along with the downtrend in rates. BSP bills auctioned reached with P114.18 billion worth versus offer of P80 billion. The average rate for the 28-day BSP bills are still on the downtrend, it...
The Bangko Sentral ng Pilipinas (BSP) said there were no releases or zero rediscounting loans for the first quarter of 2021 due to banks’ excess liquidity because it is not actively lending to corporates and households. Banks prefer to place or park their funds in BSP’s open market operations,...
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...
The Bangko Sentral ng Pilipinas (BSP) will be adding the fiscal and external sectors such as the balance of payments to the list of variables in its policy analysis model for its future decisions and regular forecasting exercises. This will also give BSP a better handle on the short-term outlook...
