More than 300 Japanese guests from Japan’s leading corporate and financial institutions have participated in the virtual Philippine Economic Briefing (PEB) that highlighted the Duterte administration’s efforts to push for a much stronger and more inclusive economy in the post-COVID-19 pandemic...
The Bangko Sentral ng Pilipinas (BSP) is tightening its monetary penalty system on erring banks by imposing a maximum P1 million for each transactional violation or P100,000 per business day for continuing offense. The previous monetary penalty for banks and/or their directors and officers was...
The Bangko Sentral ng Pilipinas (BSP) will stop accepting digital bank license applications by next week and will close the window for three years after limiting the number of digital banks in the country to just seven. “The judgment of the Monetary Board is that we will keep it close for...
The Bangko Sentral ng Pilipinas (BSP) has identified the Philippine Peso Real-Time Gross Settlement (PhP-RTGS) payment system, which it owns and operates, as a systemically important payment system (SIPS). This means the PhP-RTGS as SIPS is a payment system “which poses or has the potential to...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said there is no target or limit in their green bonds investments as part of its strategic asset allocation (SAA). The SAA is applied to the country’s accumulated $106.5-billion gross international reserves (GIR), which Diokno said...
The Bangko Sentral ng Pilipinas (BSP)-led Financial Stability Coordination Council (FSCC) will run its first report on the macroprudential stress test (MaPST) in the next two-three weeks to help financial regulators to have a more granular assessment of emerging systemic risks amid the COVID-19...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno could not emphasize more strongly how crucial the proposed bills on consumer protection are to ensure integrity and trust in the financial system. “These (pro-consumer bills) are seen to further strengthen the trust and confidence of...
The Bangko Sentral ng Pilipinas (BSP) has renewed a P540-billion provisional advances to the National Government for its fight against the COVID-19 pandemic, the fourth time that the Monetary Board extended the crisis response. BSP Governor Benjamin E. Diokno announced Thursday (July 15) that the...
Cash remittances sent home by Overseas Filipinos increased by 6.3 percent year-on-year as of end-May to $12.280 billion from $11.554 billion in 2020, the Bangko Sentral ng Pilipinas (BSP) reported Tuesday. For the month of May only, cash remittances which are transferred via banks and are easily...
The adverse impact of the prolonged pandemic will be short-lived, the government’s chief economic manager and the central bank governor said after Fitch Ratings downgraded the Philippines’ outlook to negative. BSP Gov. Benjamic Diokno and Finance Sec. Carlos Dominguez III Finance Secretary...
Banks’ non-performing loan (NPL) ratio worsened to a 13-year high of 4.49 percent in May versus 4.35 percent in the previous month and from 2.43 percent same time in 2020, based on Bangko Sentral ng Pilipinas (BSP) data. The last time gross NPL ratio was at 4.49 percent was in June 2008 before it...
The Bangko Sentral ng Pilipinas (BSP) said it is improving its stress testing exercises to make it more granular to strain each banks’ risks or exposures. The BSP in a report said it could be crucial to have a more granular review and assessment of the COVID-19 pandemic’s impact on individual...
