With continued strong demand for Bangko Sentral ng Pilipinas (BSP) 28-day bills, its average interest rate again dropped to 1.8052 percent or 2.334 basis points (bps) lower from the previous auction. The auction remained oversubscribed by 1.52x with the BSP receiving bids worth P151.50 billion...
The volume of digital payments in the country rose to 17 percent of all payment transactions as of mid-2020, and closer to the 50 percent cash-lite target of the Bangko Sentral ng Pilipinas (BSP) by 2023. The share of monthly digital payments in terms of volume has been steadily increasing from...
The Bangko Sentral ng Pilipinas (BSP) said the domestic claims of Other Financial Corporations (OFCs) such as trust and insurance firms increased by 7.9 percent year-on-year to P6.954 trillion as of the fourth quarter of 2020, based on initial data from the Other Financial Corporations Survey...
The peso closed higher  at P48.10 to the US dollar Friday, (April 30) from P48.315 the previous day.  The weighted average rate appreciated to P48.156 from P48.39. Total volume amounted to $1.185 billion, according to the Bankers Association of the Philippines.
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said inflation for the month of April could go as high as five percent from 4.5 percent in March, but could also be a low of 4.2 percent based on downside pressures. The BSP’s forecast range of 4.2 percent to 5.0 percent for...
The Bangko Sentral ng Pilipinas (BSP) has set up a Research Academy that will boost BSP’s readiness to handle, keep track of, and regulate digital currencies and artificial intelligence (AI). “The BSP is looking at the implications of new technologies such as digital currencies and AI on the...
The Bangko Sentral ng Pilipinas (BSP) will adopt three digital payment streams in the third and fourth quarters this year beginning with the QR Ph person-to-merchant (P2M) via InstaPay which will have a pilot launch on Friday. “The use of QR Ph expanded with the pilot launch of P2M payments...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno expects to have two online-only banks with digital bank license to start operation by the second half of 2021, including Overseas Filipino (OF) Bank. Diokno said another two new digital banks with no existing banking license from the BSP...
The central bank said Thursday, (April 29) that the Philippines continued to incur a balance of payments (BOP) deficit of $2.844 billion at the end of the first quarter. For the month of March only, the shortfall dropped to $73 million compared to $2.019 billion in February and $752 million deficit...
The central bank-registered foreign portfolio investments or hot money net outflows reached $540.97 million in March, up from February’s withdrawals of $40.41 million. Based on Bangko Sentral ng Pilipinas (BSP) data, March is the biggest monthly outflows so far. However compared to same time in...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno has initiated what he called an “open and informal discussion” with Asian countries to assess the “evolving" financial stability issues in the region after more than a year of the pandemic. Diokno assembled the informal meeting...
The Bangko Sentral ng Pilipinas (BSP) will allow banks to have a higher single borrower's limit (SBL) of 30 percent until end-December this year, and to reclassify bad loans reporting pending the full operationalization of the Financial Institutions Strategic Transfer (FIST) Act. These amendments...
