The Bangko Sentral ng Pilipinas (BSP) is projecting the inflation rate to fall below the two-percent level for the last month of December extending up to January next year, but it is no reason to start adjusting interest rates. BSP Deputy Governor Francisco G. Dakila Jr. explained that inflation...
The Bangko Sentral ng Pilipinas (BSP) is proposing to streamline the licensing and relax the independence requirements for securities custodians to increase the number of capital market players. The BSP wants to delete the term “third party” that refers to third party custodianship, and the...
The central bank is requiring banks to submit a quarterly report on appraised commercial properties (QRACP) to be used for its price monitoring of commercial real estate. The Bangko Sentral ng Pilipinas (BSP), in a new memo or Circular No. 1102, said the QRACP will be the groundwork to generate a...
The Bangko Sentral ng Pilipinas (BSP) will not be issuing its own central bank digital currency (CBDC) in the next three or five years, according to its highest-ranking official. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. (Bloomberg file photo) When asked if the BSP could come...
To comply with the reserve requirement, banks have released P14.9 billion more loans to micro, small and medium enterprises (MSME) for the month of September alone, based on Bangko Sentral ng Pilipinas (BSP) data. MB file photo. This brings the average daily balance of bank loans to MSMEs to P120.9...
The central bank’s auction of 28-day securities fetched a higher rate on Friday, it remained oversubscribed as the only 28-day offering this week after the Bangko Sentral ng Pilipinas (BSP) put aside the 28-day term deposit facility (TDF). The BSP bills received P129.1 billion tenders...
The Philippines’ stock of foreign assets and US dollar reserves have passed the $100 billion mark at $100.49 billion as of end-September, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said Thursday. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno Based on preliminary...
Cash remittances sent by overseas Filipinos via the banking system declined to $19.285 billion as of end-August, 2.6 percent lower than same period last year of $19.808 billion, the Bangko Sentral ng Pilipinas (BSP) reported Thursday. For the month of August only, bank-channeled remittances were...
Economists from Japan-based MUFG Bank Ltd. see continued strong peso vis-à-vis the US dollar despite the pandemic-induced economic recession and increasing COVID-19 cases which is the highest in the region. MUFG analyst Sophia Ng for Global Markets Research forecasts the peso to keep its strength...
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...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said Tuesday that the pre-emptive monetary responses which it has been doing since the coronavirus outbreak began will continue to keep confidence in the BSP which is “resolute in its intention to provide timely and sufficient support...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno on Monday said that with the obvious signs of a recovering economy, he is a lot more confident now that the most difficult period of the public health crisis has come and gone. BSP Governor Benjamin E. Diokno ( Bloomberg file photo)...
