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)...
The Bangko Sentral ng Pilipinas (BSP) has extended for the third time the temporary relief measures for its rediscount facilities until January 31 next year. The previously granted temporary measures lapsed on September 30. This is the third time that a fixed rediscount term as relief to banks has...
Big banks’ outstanding loans in August grew by only by 4.7 percent year-on-year, a significant low number compared to 6.7 percent in July, the Bangko Sentral ng Pilipinas (BSP) said Friday. “Bank lending growth continued to moderate as a result of weaker corporate sector performance,...
The Bangko Sentral ng Pilipinas (BSP) has approved the National Government’s request for a P540 billion advances for budget gap financing due to COVID-19 pandemic expenses. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno ( Bloomberg file photo) BSP Governor Benjamin E. Diokno said...
MB File The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has decided to leave the key policy rate or overnight reverse repurchase (RRP) rate unchanged on Thursday, citing continued appropriate policy settings and benign inflation. In the same meeting, the seven-member BSP...
The local economy’s external exposure as net external liability position was better in the last quarter of 2019 at P1.7 trillion or 24 percent lower than P2.2 trillion in 2018, the Bangko Sentral ng Pilipinas (BSP) said in its first Philippine Balance Sheet Approach (BSA) report. The BSP said the...
The country’s external debt service burden was down by 17 percent end-June to $3.983 billion from $4.80 billion same time last year, data from the Bangko Sentral ng Pilipinas (BSP) showed. Debt service burden is principal and interest payments on both the public and private sector debts...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the central bank’s ability to issue its own securities will improve both liquidity and inflation control, especially after infusing over P1.4 trillion of money supply in the financial system since the pandemic began. Benjamin...
