An applicant digital bank in the Philippines will be required to have a minimum capitalization of P1 billion, according to a revised Bangko Sentral ng Pilipinas (BSP) proposed guidelines on the setting up of digital banks. This was higher than earlier proposed of P400 million for a basic digital...
The Bangko Sentral ng Pilipinas (BSP) has approved the National Government’s request for a P540 billion advances for budget gap financing due to COVID-19 pandemic expenses. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno ( Bloomberg file photo) BSP Governor Benjamin E. Diokno said...
The country’s external debt service burden was down by 17 percent end-June to $3.983 billion from $4.80 billion same time last year, data from the Bangko Sentral ng Pilipinas (BSP) showed. Debt service burden is principal and interest payments on both the public and private sector debts...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the central bank’s ability to issue its own securities will improve both liquidity and inflation control, especially after infusing over P1.4 trillion of money supply in the financial system since the pandemic began. Benjamin...
Because of the pandemic and temporary suspension of some of its open market facilities, the Bangko Sentral ng Pilipinas (BSP) earned less in the second quarter, reducing its six-month net income to P13.714 billion or 54.1 percent lower than same time in 2019 of P29.883 billion. The BSP has been...
The Bangko Sentral ng Pilipinas’ (BSP) maiden auction of 1-month BSP Bills, offered at P20 billion initially, received tenders amounting to P43.36 billion in Friday’s bids. This is the first central bank issued securities since the “JOBO” Bills in the 1980s. MB file photo. According...
The Bangko Sentral ng Pilipinas (BSP) said that as of end-June this year, the Philippines’ outstanding external debt was higher at $87.453 billion, up by 7.6 percent or $6.2 billion from same time last year of $81.259 billion, as the government borrowed more to finance anti-COVID-19 pandemic...
Cash remittances sent by overseas Filipinos (OF) via the banking networks increased by 7.8 percent in July but January-July data still show a decline of 2.4 percent to $16.802 billion because of the COVID-19 pandemic. The 2.4 percent year-to-date (YTD) decline is recorded both for the cash and...
