The Bangko Sentral ng Pilipinas (BSP) will adopt three digital payment streams in the third and fourth quarters this year beginning with the QR Ph person-to-merchant (P2M) via InstaPay which will have a pilot launch on Friday. “The use of QR Ph expanded with the pilot launch of P2M payments...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno expects to have two online-only banks with digital bank license to start operation by the second half of 2021, including Overseas Filipino (OF) Bank. Diokno said another two new digital banks with no existing banking license from the BSP...
The central bank said Thursday, (April 29) that the Philippines continued to incur a balance of payments (BOP) deficit of $2.844 billion at the end of the first quarter. For the month of March only, the shortfall dropped to $73 million compared to $2.019 billion in February and $752 million deficit...
The central bank-registered foreign portfolio investments or hot money net outflows reached $540.97 million in March, up from February’s withdrawals of $40.41 million. Based on Bangko Sentral ng Pilipinas (BSP) data, March is the biggest monthly outflows so far. However compared to same time in...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno has initiated what he called an “open and informal discussion” with Asian countries to assess the “evolving" financial stability issues in the region after more than a year of the pandemic. Diokno assembled the informal meeting...
The Bangko Sentral ng Pilipinas (BSP) will allow banks to have a higher single borrower's limit (SBL) of 30 percent until end-December this year, and to reclassify bad loans reporting pending the full operationalization of the Financial Institutions Strategic Transfer (FIST) Act. These amendments...
Yields of the central bank’s term deposit facility (TDF) continue to decline on Wednesday while tenders are still more than offer. Based on Bangko Sentral ng Pilipinas (BSP) data, the 7-day TDF received P174.27 billion tenders versus offer of P140 billion. It is the same volume from last week...
The peso closed higher at P48.381 to the US dollar  Tuesday,  (April 27) from P48.39 the previous day. The weighted average rate depreciated to P48.408 from P48.347. Total volume amounted to $643.5  million, according to the Bankers Association of the...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno is not ruling out more cuts to banks’ reserve requirement ratio (RRR) this year that would flood more money supply or liquidity sloshing around the financial system. “Further cuts on the RRR remain on the table but it could depend on...
State-run Land Bank of the Philippines (LANDBANK) said its total loan portfolio to the agriculture sector slightly grew to P229 billion as of March 31 or 4.8 percent higher than P219.24 billion in February, with the small, medium, and large enterprises (MSMEs) accounting for the bulk. According to...
The peso closed lower  at P48.39 to the US dollar Monday, (April 26) from P48.381 last Friday. The weighted average rate appreciated to P48.347 from P48.383. Total volume amounted to $514.68  million, according to the Bankers Association of the Philippines.
Private sector economists raised its 2021 mean inflation forecast from 3.9 percent in February to 4.3 percent in March due to oil price movements, based on the Bangko Sentral ng Pilipinas (BSP) latest survey. The same analysts also revised higher its 2022 mean inflation forecast to 3.1...
