SwiftPay, the enterprise payments unit of Bangko Sentral ng Pilipinas-regulated (BSP) Swift Technology Ventures Inc., launched a real-time fraud detection platform to help local lenders comply with stricter digital security mandates amid rising financial scams. The platform, called SwiftGuard,...
The central bank is scrutinizing the pilot program by state-run Land Bank of the Philippines to eliminate convenience fees on digital payments to government agencies, assessing whether market dynamics alone will compel private commercial lenders to follow suit. The Bangko Sentral ng Pilipinas (BSP)...
To improve the quality, completeness, and timeliness of national economic data, the Bangko Sentral ng Pilipinas (BSP), the Securities and Exchange Commission (SEC), and the Philippine Statistics Authority (PSA) have entered into a data-sharing agreement. Spearheaded by Finance Secretary Frederick...
The Bangko Sentral ng Pilipinas (BSP) ordered domestic lenders to bolster oversight of accounts connected to casino junket operators, warning that financial flows tied to the high-stakes gaming sector pose elevated money laundering risks. In a July 21 memorandum, BSP Deputy Governor Lyn Javier...
A nearly two-year-high balance of payments (BOP) surplus in June significantly trimmed the Philippines’ cumulative external payments gap, bringing the first-half 2026 deficit down to $3.88 billion—nearly half the shortfall recorded in the first five months. This rebound was driven by a...
It is no consolation to be told that inflation is easing to less than seven percent in July of 2026. Even six percent is still three times the two percent or less annual inflation target that the Bangko Sentral ng Pilipinas (BSP)Bank should be aiming for. What is more concerning is that food...
Banknote withdrawals from the Bangko Sentral ng Pilipinas (BSP) slowed to single-digit growth last year from 12.5 percent in 2024, reflecting a possible shift toward digital channels for larger-value transactions as well as softer economic activity. “You could think of several reasons for that....
Salary increases in the Philippines are expected to remain moderate through next year as employers balance rising inflation, cost pressures, and the need to retain critical talent, according to global advisory, broking and solutions company Willis Towers Watson plc (WTW). In its latest Asia-Pacific...
Domestic banks and e-wallets should expand their product offerings and reduce their reliance on digital transaction fees as a key revenue source, according to a senior official of the Bangko Sentral ng Pilipinas (BSP). This comes on the heels of the BSP’s move to summon non-compliant financial...
Total resources of the Philippine financial system rebounded in May, reaching a record ₱37.64 trillion, nearly one percent higher than the ₱37.31 trillion recorded in April, driven by “some hedging and frontloading” of loans before further price spikes occur. This recovery was supported by...
Muntinlupa Mayor Ruffy Biazon confirmed that all patients were safe after a brief fire hit the city-funded Ospital ng Muntinlupa (OsMun) in Barangay Alabang on Sunday, July 19. Biazon said the fire was reported at 3:39 p.m., prompting the hospital to declare Code Red, which indicates a fire or...
The Bangko Sentral ng Pilipinas (BSP) is scrambling to reassess its inflation trajectory after Metro Manila’s unexpectedly large minimum wage hike threatened to trigger secondary price pressures. BSP Governor Eli Remolona Jr. admitted that the monetary authority was caught off guard by the scale...
