Senator Nancy Binay has said the Bangko Sentral ng Pilipinas (BSP) should first seek congressional approval before it introduces any design changes on coins and bank notes. Binay made the suggestion in light of the removal of three World War II martyrs in the redesigned P1,000 banknote, saying a...
Senator Sherwin Gatchalian on Sunday urged the Bangko Sentral ng Pilipinas (BSP) to ensure that financial consumers who were victimized by the recent online banking hacking incident are protected while its investigation is ongoing. Gatchalian said he is considering filing a resolution seeking a...
Senate Committee on Banks, Financial Institutions and Currencies chair Senator Grace Poe on Sunday urged the Bangko Sentral ng Pilipinas (BSP) to dig deeper into the online banking hacking incident that hounded BDO account holders, saying such incident need to stop in the face of the growing...
House Deputy Minority leader and Bayan Muna Rep. Carlos Isagani Zarate on Saturday, Nov. 11 called the attention of the Bangko Sentral ng Pilipinas on “glaring errors” found in the newly-released P1,000 bill. Zarate found the two errors referring to the image of the Philippine eagle as “quite...
The national government will repay the full amount of its cash advances to the Bangko Sentral ng Pilipinas (BSP) ahead of the January maturity date, the Department of Finance (DOF) said. In a letter addressed to BSP Governor Benjamin E. Diokno, Finance Secretary Carlos G. Dominguez III said that...
Editorial “The Monetary Board maintains that keeping a patient hand on the BSP’s policy levers, along with appropriate fiscal and health interventions, will keep the economic recovery more sustainable over the next few quarters.” Thus did Bangko Sentral ng Pilipinas (BSP) Governor Benjamin...
President Duterte’s economic managers will meet this week with the foreign chambers of commerce to tackle the country’s recovery initiatives and present their investment priority sectors. The economic team led by the Department of Finance (DOF) and the Bangko Sentral ng Pilipinas (BSP) will...
Consumer prices last month rose near the lower end of a government forecast owing to slower increase in food prices, the National Economic and Development Authority (NEDA) reported on Friday, Nov. 5. Data from the Philippine Statistics Authorty showed that prices increased 4.6 percent in October,...
Metropolitan Bank & Trust Co. (Metrobank) reported that its net income grew by 46 percent to P16.1 billion in the first nine months of 2021. In a statement, Metrobank said that earnings surged 131 percent to P4.4 billion in the third quarter of 2021, with proactive NPL management resulting in...
The Bangko Sentral ng Pilipinas (BSP) has directed all banks and their subsidiaries to submit quarterly reports of their remaining London Inter-Bank Offered Rate or LIBOR-related exposures until end-2023. BSP Deputy Governor Chuchi G. Fonacier, who signed the memo (Memorandum No. M-2021-058) on...
Foreign portfolio investments in September reversed to a net outflow of $24 million versus the previous month’s net inflow of $12 million, the Bangko Sentral ng Pilipinas (BSP) said on Thursday, Oct. 28. 42027 The $24 million net outflows are lower than the $494 million net outflows registered in...
Benchmark interest rates moved sideways on Monday, Oct. 18, as yields for the three-month and one-year IOUs resumed their increase, while the six-month paper marginally dropped. The 91-day Treasury bill rate, which banks use in pricing their loans, went up to 1.113 percent from 1.095 percent a week...
