The pandemic-affected cash remittances fell by 0.8 percent year-on-year to $29.903 billion in 2020 from $30.133 billion which was lower than what the Bangko Sentral ng Pilipinas (BSP) estimated was a two percent contraction for the year. “Despite the global slump due to the pandemic,...
The stock market weakened as investors continued to pocket gains while waiting for more cues to buy up stocks. Photo credit: https://www.pse.com.ph The main index dropped 31.8 points or 0.45 percent to close at 6,959.21 with only the Financials and Mining and Oil counters holding their...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they are analyzing and reviewing the currency denominational structure as the country transitions into a cash-lite and non-coin society. “The BSP is currently reviewing the existing currency denominational structure in light of...
Consumer advocacy group Laban Konsyumer Inc. (LKI) said the higher fees in the use of ATM (automated teller machines) will benefit big banks and marginalize the small ones. Photo by Eduardo Soares on Unsplash In a statement, LKI President Victorio Mario Dimagiba questioned and raised concerns on...
Starting on April 7 The Bangko Sentral ng Pilipinas (BSP) said the banking public will only see ATM fee adjustments of P10 to P18 after the first week of April, from P10 to P15 which has been the price for transacting machine withdrawals since 2013. “By April 7, ATM withdrawal fees are expected...
The country’s net foreign direct investment (FDI) inflows fell to $5.792 billion as of end-November 2020, 10.8 percent lower year-on-year from $6.493 billion, the Bangko Sentral ng Pilipinas (BSP) reported. FDIs are equity capital, reinvestment of earnings, and borrowings. BSP’s FDI reporting...
The Bangko Sentral ng Pilipinas (BSP) will fuse its Money Laundering Terrorist/Financing Risk Assessment System (MRAS) to its recently adopted Supervisory Assessment Framework (SAFr) to have more teeth in fighting against illegal or dirty money and fortify financial system stability. BSP Governor...
Inflation forecast adjusted upwards The central bank’s Monetary Board decided today (February 11) to keep policy settings unchanged but adjusted the inflation forecast for 2021 higher as it sees consumer price index remaining elevated for most of this year due to supply side shocks. Bangko...
The Bankers Association of the Philippines (BAP) on Wednesday said the adoption of the ATM pricing method using acquirer-based fee principle will offer more competitive rates. “We are appreciative of the BSP’s (Bangko Sentral ng Pilipinas) move to adopt this pricing philosophy that is market...
The central bank reallocated the 7-day term deposit facility (TDF) volume to the 14-day TDF this week but the results were still mixed, in both tenders and yields. The Bangko Sentral ng Pilipinas (BSP) offered P210 billion for the 7-day tenor on Wednesday, lower than the previous P240...
The Philippine stock market gained a little more ground as investors are cautiously becoming more optimistic because of developments here and overseas. PSE file photo The benchmark PSEi moved up 16.60 points or 0.24 percent to close at 7,082.15 although the Financials and Industrial counters...
The Bangko Sentral ng Pilipinas (BSP) has issued an advisory warning banks and non-banks to be alert and detect clients or customers that are engaged in illegal online gambling and to report these activities to the proper government agencies including the central bank. BSP memo (Circular Letter No....
