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) posted P25.57 billion in net income as of end-April, up 125.68 percent year-on-year, still fueled by miscellaneous income. Based on the BSP’s preliminary and unaudited statement of income and expense report , revenues expanded by 83.8 percent to P59.79...
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...
Legal issues of BSP’s ‘digital banknote’ initiative MB file After the Bangko Sentral ng Pilipinas (BSP) created a Technical Working Group (TWG) in June 2020 as initial research on a possible central bank digital currency (CBDC), it released a more comprehensive study in March this year on...
OF SUBSTANCE AND SPIRIT Diwa C. Guinigundo As expected, many economists and analysts missed on their forecasts of the Philippine inflation rate of 4.1 percent for June 2021. Public announcement of the monthly inflation rate is highly awaited by the market because it is both a history of price...
All the six financial service providers (FSPs) that were tapped in 2020 to undertake digital electronic disbursement of second tranche of emergency cash subsidies under Social Amelioration Program (SAP) through restricted transactional accounts hurdled the Bangko Sentral ng PIlipinas’ (BSP)...
The Bangko Sentral ng Pilipinas (BSP) said it is improving its stress testing exercises to make it more granular to strain each bank’s 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...
As the Bangko Sentral ng Pilipinas (BSP) celebrates its 28th anniversary today, it is proud that it has become “greener” and has embraced the principles of sustainable development. Last year, when the BSP too was in lockdown, its officials started drafting its pandemic-proof Sustainable Central...
Wala Lang Small pieces of paper, tiny bits of metal—neither is edible nor useful but people work, fight, kill for them. Paper money and coins are the subject of Yaman: History and Heritage in Philippine Money , a weighty tome just published by the Bangko Sentral ng Pilipinas. Authored by...
The Securities and Exchange Commission (SEC) is supporting moves to amend Republic Act No. 1405, or the Secrecy of Bank Deposits Law, to reinforce the country’s fight against money laundering, terrorist financing, tax evasion and other financial crimes. The amendments put forward under House Bill...
OF SUBSTANCE AND SPIRIT Diwa C. Guinigundo It was good for the Bangko Sentral ng Pilipinas to shift the release of Financial Stability Report (FSR) from annual to semestral beginning second semester of 2020. There is a dearth of reliable and timely information that the Filipino public could trust,...
As prime movers of a country’s economy, financial institutions thrive on public trust and confidence. Individuals and organizations entrust the safekeeping of their money to banks that also provide loans to support the growth and viability of business enterprises. At all times with or...
