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Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said there is no “trade-off” in maintaining an accommodative policy stance where there is low interest rate and increased money supply in the financial system.

The Bangko Sentral ng Pilipinas (BSP) will conduct data-gathering “baselining exercise” in aid of rules being drafted for banks and non-banks’ Data Governance and Ethical Use of Data, said BSP Governor Benjamin E. Diokno.

The Bangko Sentral ng Pilipinas (BSP) has lowered the minimum size of investment management account (IMA) held by banks and non-banks to just P100,000 from P1 million.

The Bangko Sentral ng Pilipinas (BSP)-led Financial Inclusion Steering Committee (FISC) is strongly urging the quick approval of the proposed Open Access in Data Transmission Act and the signing of an executive order (EO) for satellite-based internet connectivity to accelerate the country’s shift from cash-heavy to a cash-lite society in two to three years.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the BSP, as an inflation-targeting central bank, is changing the way it projects macroeconomic outlook based on the International Monetary Fund’s (IMF) forecasting and policy analysis systems (FPAS) to improve the Philippines’ policy analysis and review.

Under new economy

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the central bank, which has provided P2 trillion in liquidity to the financial system in 2020, will continue to be the game changer in the country’s anti-COVID-19 pandemic response.

Overseas Filipinos’ cash remittances reached $27.013 billion as of end-November 2020, down 0.8 percent year-on-year from $27.231 billion same time in 2019, the Bangko Sentral ng Pilipinas (BSP) reported Thursday.

The central bank’s scrutiny of domestic systemically important banks (D-SIBs) – these are large financial institutions deemed too big to fail – are heightened by enhanced D-SIBs metrics in response to rising pandemic-induced systemic threats to the financial system.

The country’s external debt service burden decreased by 11.11 percent to $4.934 billion as of end-August from $5.551 billion same time last year, according to the Bangko Sentral ng Pilipinas (BSP).

The Bangko Sentral ng Pilipinas (BSP)-led Financial Stability Coordination Council (FSCC) has shifted the way they assess, review and forecast systemic risks because the global COVID-19 pandemic has changed consumer preferences and market risk behaviors, and using “older norms” and previously-sufficient economic models will no longer be as effective or relevant.