The average interest rates of the central bank’s term deposit facility (TDF) continue to drop this week as tenders also declined by P140.68 billion. The TDF, offered higher at P550 billion versus last week’s P530 billion, received tenders P726.62 billion which was lower compared to January...
New bank applicants that are proposing to operate business models that looked like digital banks will be approved as digital banks, according to a Bangko Sentral ng Pilipinas (BSP) memo released on Tuesday clarifying the new circular on the establishment of digital banks. BSP Deputy Governor Chuchi...
The central bank’s scrutiny of domestic systemically important banks (D-SIBs) – these are large financial institutions deemed too big to fail – are heightened by enhanced D-SIBs metrics in response to rising pandemic-induced systemic threats to the financial system. Bangko Sentral ng...
The banking industry expressed a more subdued optimism on the country’s economic prospects as risks remain tilted to the downside due to the effects of coronavirus pandemic, a new survey by the Bangko Sentral ng Pilipinas (BSP) revealed. Based on the results of the Banking Sector Outlook...
State-run Philippine Amusement and Gaming Corp. (Pagcor) has remitted additional funds to the Bureau of the Treasury for the government’s efforts in curbing the spread of COVID-19 and providing economic relief. In a statement, Recto Baltazar Jr., Pagcor vice-president, said the gaming regulator...
Banks’ trust assets were up 6.20 percent as of end-third quarter 2020 to P3.048 trillion from P2.870 trillion same period in 2019 with most preferring to be liquid and opting for safer investments during the pandemic. Based on data from the Bangko Sentral ng Pilipinas (BSP), the 28 financial...
The peso closed higher at P48.020 to the US dollar Monday, the first trading day of the year from P48.023 on December 29, 2020.  The weighted average rate depreciated to P48.022 from P48.021. Total volume amounted to $873.75...
Debt service burden down 8% The Philippines will continue to have a strong debt sustainability position and will remain comfortably way below what the Bangko Sentral ng Pilipinas (BSP) considers a danger threshold even as the country borrow more from foreign sources to fund COVID-19 vaccine...
The Bangko Sentral ng Pilipinas (BSP) is proposing a reporting governance framework for the operators of payment systems (OPS). In a draft circular, Regulatory Reporting Standards for Operators of Payment System, the BSP said OPS should have “relevant,...
Banks’ foreign currency deposit unit (FCDU) loans declined to $17.3 billion as of end-September, down by 3.9 percent from the previous quarter’s $18 billion. On a year-on-year basis, FCDU loans fell by 3.1 percent from $17.8 billion, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno...
The branches of foreign banks in the Philippines can continue to use twice the level of net worth for its single borrower’s limit (SBL) until end-2021 as part of the Bangko Sentral ng Pilipinas’s (BSP) regulatory relief measures. BSP Governor Benjamin E. Diokno (Bloomberg file) BSP Governor...
The Bangko Sentral ng Pilipinas (BSP) said the December inflation could be a low of 2.9 percent from November’s high of 3.3 percent, or it could move up more to 3.7 percent due to higher prices of some food. “Higher prices of domestic petroleum products and key agricultural items...
