The Bangko Sentral ng Pilipinas (BSP) has started its comprehensive review and assessment of when to reduce or scale back the size of liquidity and COVID-19 relief measures to avoid financial distress post-pandemic. So far, the BSP has infused the financial system P2 trillion in liquidity, or about...
There was strong demand for the auction of 28-day Bangko Sentral ng Pilipinas (BSP) securities last Friday as bids were 1.72x oversubscribed, according to BSP Deputy Governor Francisco G. Dakila Jr. The BSP bills also fetched a higher yield of 1.6683 percent from the previous 1.6402 percent....
The enactment of the Financial Institutions Strategic Transfer (FIST) law, which is expected to free up over P1 trillion worth of banks’ soured loans and non-performing assets and assist 600,000 micro, small and medium enterprises (MSMEs), will ensure the stability of the local financial system...
The Securities and Exchange Commission (SEC) is seeking public comments for the draft Implementing Rules and Regulations (IRR) of Republic Act No. 11523 or the Financial Institutions Strategic Transfer (FIST) Act, a critical economic measure in the Philippines’ economic recovery. In a...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said there is no “trade-off” in maintaining an accommodative policy stance where there is low interest rate and increased money supply in the financial system. Diokno continued to assure the market that as far as BSP is concerned,...
The government’s continued movement restrictions will deter the country’s economic recovery this year, one of three major international credit rating agencies said on Thursday, Feb. 18. In a credit opinion, Moody’s Investors Service said that the Philippine economy, as measured by its...
The Bangko Sentral ng Pilipinas (BSP) will conduct data-gathering “baselining exercise” in aid of rules being drafted for banks and non-banks’ Data Governance and Ethical Use of Data, said BSP Governor Benjamin E. Diokno. “The baselining exercise will look into BSFIs’ (BSP supervised...
The local stock market bounced back to the 7,000 level as global stocks rallied. The PSEi hiked 84.85 points or 1.22 percent to close at 7.044.06 as sub-indices rose across the board. A hefty 21.86 billion shares worth P18.16 billion changed hands as gainers beat losers 122 to 89 with 54...
The Bangko Sentral ng Pilipinas (BSP) said it is preparing to issue the proposed policy on banks and non-banks’ ethical use of data and to release the intended circular for comments and recommendations soon. The BSP said it is now drafting the policy on Data Governance and Ethical Use of Data for...
The Bangko Sentral ng Pilipinas (BSP) reported Monday that gross international reserves (GIR) dipped to $108.799 billion in January from December 2020’s $110.117 billion due to government withdrawals to pay for foreign-denominated loans, and changes in the price of gold. The BSP in a statement...
The national government has successfully borrowed P24 billion in the domestic market Monday, Feb. 15 after interest rates declined across the board. At an auction, yield of 91-day Treasury bills (T-bills) averaged at 0.845 percent, slightly lower from last week’s 0.846 percent. The 182-day...
The auction of Bangko Sentral ng Pilipinas (BSP) 28-day securities was slightly undersubscribed at P99.05 billion versus offer of P100 billion while yields increased. “The very slight undersubscription in the 28-day bills auction reflects market participants preference for shorter tenors in...
