The central bank said it registered $373.95 million of net foreign portfolio investment outflows in April compared to the bigger withdrawal of $540.97 million in March. On a year-on-year basis, speculative funds or “hot money” net outflows is also lower compared to the $660.38 million net...
Debt-watcher S&P Global’s affirmation of the Philippines’ investment grade status is a vote of confidence in the country’s medium-term growth prospects despite challenges posed by COVID-19, the government’s chief economic manager and central bank governor said. Finance Secretary Carlos...
The yet-to-recover economy has suppressed threats of second-round effects for now but the rising global oil prices as the rest of the world recovers from the pandemic, and its impact on local inflation warrants extra vigilance, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E....
The central bank’s Monetary Board has issued the circular for banks’ sale/transfer and investment transactions under the Financial Institutions Strategic Transfer (FIST) Act (Republic No. 11523). The circular was on the transfer/sale of non-performing assets (NPAs) to a FIST corporation or...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the recently approved rules for banks’ reputational risk management will ensure stronger financial growth and stability. Diokno said the guidelines for managing reputational risk “emphasize the importance of having a clear...
The peso closed higher   at P47.985 to the US dollar Thursday,  (May 27) from P48.15  the previous day.  The weighted average rate appreciated to P48.091 from P48.138. Total volume amounted to $1.088.59  billion, according to the Bankers Association of the...
The central bank said the country’s balance of payments (BOP) deficit is down to $231 million in the first four months on account of the $2.614 billion surplus recorded for the month of April. The BOP deficit improved from $2.844 billion at the end of the first quarter or as of...
Banks showed subdued appetite for the Bangko Sentral ng Pilipinas’ (BSP) auction of term deposit facility (TDF) this week with tenders amounting to P524.3 billion versus offer of P510 billion. “The BSP maintained the TDF offer volume at P510 billion and the distribution mix between the 7-day...
The central bank said banks have released an average of P174.9 billion new loans to micro, small and medium enterprises (MSMEs) as of mid-April as alternative compliance to the reserve requirement (RR) rule. Based on Bangko Sentral ng Pilipinas (BSP) data, this amount is 12 percent of total...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they are about to issue “second-phase regulation” to make the banking sector more responsive to risks in transitioning to a low-carbon economy including climate change scenarios. “Banks may gradually consider the future...
Banks’ non-performing loan (NPL) ratio will breach six percent by the end of 2021, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. NPL ratio which is currently at 4.21 percent end-March, while still considered manageable, is expected to “settle at slightly above six...
The peso closed lower at P48.065 to the US dollar Monday, (May 24) from P47.945 last Friday. The weighted average rate depreciated to P48.019 from P47.897. Total volume amounted to $937.64 million, according to the Bankers Association of the Philippines.
