Tag: #Benjamin Diokno
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BSP: NBI tasked to prosecute brains behind bank hacking incident
The National Bureau of Investigation (NBI) will pursue the filing of criminal cases against the brains behind the series of bank hacking incident that were reported in December 2021, an official of the Bangko Sentral ng Pilipinas (BSP) said on Monday.
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PH Red Cross thanks BSP for P15M donation
The Philippine Red Cross (PRC) on Tuesday, July 6, expressed gratitude to the Bangko Sentral ng Pilipinas (BSP) after receiving a monetary donation worth P15 million.
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RRR cuts still on the table – Diokno
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno is not ruling out more cuts to banks’ reserve requirement ratio (RRR) this year that would flood more money supply or liquidity sloshing around the financial system.
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BSP vows to keep interest rates low if necessary
The faster recovery in more advanced economies and possible early start towards normalization will not necessarily translate to a similar monetary policy stance for the Philippines which intends to keep interest rates low in support of growth, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.
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BSP issues rules on banks’ ‘reputational risk’ handling
A Bangko Sentral ng Pilipinas (BSP) new guidelines are providing banks with the capability to control and manage hits and threats to their reputation as trusted financial institutions and to avoid triggering systemic risks amid the still raging global health crisis.
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BSP to expand monetary policymaking
The Bangko Sentral ng Pilipinas (BSP) will be adding the fiscal and external sectors such as the balance of payments to the list of variables in its policy analysis model for its future decisions and regular forecasting exercises.
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BSP: Below 4% 2021 inflation still possible
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said the government’s non-monetary measures such as reducing import tariff on pork may pull the inflation forecast lower to below four percent this year.
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Peso to remain strong – Diokno
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno assured foreign investors that the foreign exchange environment will continue to be stable and he sees no threats to the Philippine peso, making the country an attractive investment location still.
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Financial system has manageable risk – BSP
Banks and other Bangko Sentral ng Pilipinas (BSP) supervised financial institutions (BSFIs) such as pawnshops and e-money issuers have “low” to “medium” risk exposures when it comes to money laundering (ML), terrorist financing (TF) and proliferation financing (PF), based on the BSP’s latest sectoral risk assessment (SRA) report.
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BSP expects elevated inflation for most of 2021
The Bangko Sentral ng Pilipinas (BSP) is projecting that the inflation rate for the first three quarters of 2021 will stay above four percent before easing back to within the 2-4 percent target in the last three months of the year.
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BSP: No ‘trade-off’ in accommodative policy
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.
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BSP to conduct baseline info gathering
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.
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BSP substantially lowers investment account size
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.
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BSP bats for EO; endorses bill for digital infra
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.
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BSP shifts inflation-targeting approach
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.
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BSP assures funds for COVID-19 responses
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.