The Bangko Sentral ng Pilipinas (BSP) has updated and revised its rules on the exchange of virtual assets (VA) by expanding the guidelines covering virtual currency exchanges (VCEs) and the registration and the granting of license of virtual asset service providers (VASP). The amendment basically...
Local share prices fell on renewed concern over the possibility of imposition of greater restrictions in light of the growing number of new COVID-19 cases. The PSEi dropped 94.34 points or 1.33 percent to close at 6,977.16 as all sectors retreated. Volume was higher at 74.53 billion shares worth...
The Bangko Sentral ng Pilipinas’ (BSP) total loans and advances to banks by end-November 2020 increased to P680.76 billion, or 3x more than what was reported same period in 2019. The surge in the BSP loans and advances were reported in June up to November last year, compared to declines recorded...
The COVID-19 pandemic has put on hold foreign banks’ plan to establish local units or branches in the Philippines. “As of now, no application to establish foreign bank is received by the FSS (Financial Supervision Sector),” according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi...
Economists surveyed by the Bangko Sentral ng Pilipinas (BSP) have adjusted its inflation expectation higher for 2021 but steady for 2022, while the BSP continue to communicate its intention to maintain low borrowing rates. Based on the central bank’s latest Private Sector Economists’...
The Bangko Sentral ng Pilipinas (BSP) said it has fully awarded its 28-day bills offered at P100 billion. The BSP securities auction received P162.80 billion tenders on Friday, lower than January 15’s P167.25 billion bids. The BSP bills fetched a lower average rate this week of 1.6362 percent...
The Philippine stock market fell as foreign funds continue to flow out. The main index dropped 94.46 points or 1.32 percent to close at 7,045.83 with only the Industrial and Mining & Oil counters advancing. Volume dipped to 135 billion shares worth P11.39 billion with loaers edging out gainers...
Following a minor head injury-related surgery last weekend, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno on Thursday said he expects to be back in the BSP Malate headquarters by Monday, January 25, after some time off to rest. “I expect to report for work on Monday and preside...
The Bangko Sentral ng Pilipinas (BSP) on Thursday said it continues to support the government’s national ID program as its official printer and will face graft complaints against its officials. In a statement, the BSP said it will address the “complaint filed with the Ombudsman relative...
The central bank is expected to reduce banks’ reserve requirement (RR) ratio by 200 basis points (bps) this year but it will not likely lead to a pick up in lending activities, not when the COVID-19 virus and its emerging variants are still here, according to HSBC economists. HSBC managing...
The central bank raised its volume for this week’s term deposit facility (TDF) and it was still oversubscribed, but yields continue to fall. Bangko Sentral ng Pilipinas (BSP) Governor-in-charge Francisco G. Dakila Jr. noted the market participants’ “continued strong interest in the TDF”...
Aboitiz-owned Union Bank of the Philippines (UnionBank) is still studying how to go about formally adopting digital banking in view of the central bank’s new category on online-only banks. UnionBank senior vice president Henry R. Aguda said they have not yet applied for digital bank license with...
