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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.

Legal issues of BSP’s ‘digital banknote’ initiative

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.