Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they will pro-actively approach banks – especially the large lenders both local and foreign – if they are interested in establishing an Islamic bank or an Islamic banking unit (IBU). So far, Diokno said the BSP is entertaining...
The Bangko Sentral ng Pilipinas (BSP), which has returned to stricter health protocols with the recent increase in COVID-19 cases, is reminding banks to do the same while movement restrictions are in place to stem the more infectious virus-variants transmission. Most banks, especially big banks,...
The central bank’s weekly auction of term deposit facility (TDF) continue to be oversubscribed at P669.41 billion versus offer of P480 billion, while the average rates for the two tenors increased this week again. “The auction results show that, amid ample financial system liquidity, market...
The Bangko Sentral ng Pilipinas (BSP) will likely consider the withdrawal of COVID-19 monetary and banking policy interventions after mid-2022 when the economy is expected to have returned to pre-pandemic growth levels, and assuming herd immunity against the virus has been achieved around the same...
The Bangko Sentral ng Pilipinas (BSP) has mopped up the P2 trillion excess liquidity it has injected in the financial system last year to ensure market rates are in line with the BSP policy rate. The BSP said one of its key monetary operations, the overnight deposit facility (ODF), was the main...
The peso closed lower at P48.631 to the US dollar Tuesday, (March 23) from P48.58 the previous day. The weighted average rate  depreciated  to P48.606 from P48.584. Total volume amounted  to $716.34 million, according to the Bankers Association of the Philippines.
Two foreign banks and one local bank has formally submitted its application to acquire a digital bank license in the Philippines, according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier. Fonacier, who heads the BSP’s financial supervision sector, has confirmed that three...
The peso closed higher at P48.58 to the US dollar Monday, ( March 22)  from P48.62 last Friday.  The weighted average rate  appreciated  to P48.584 from P48.674. Total volume amounted  to $634.8 million, according to the Bankers Association of the Philippines.
Financial intelligence company, Moody’s Analytics, said the Bangko Sentral ng Pilipinas (BSP) is not expected to move the policy rate this week but if the rise in new COVID-19 cases continue, it could cut benchmark rate in the second quarter this year. “We expect the Philippines’ central bank...
The government borrowed more foreign loans in 2020 to fund COVID-19 response, pushing the outstanding external debt to grow by 17.8 percent to $98.488 billion from $83.618 billion in 2019, based on Bangko Sentral ng Pilipinas (BSP) data. The country’s external debt as a ratio to GDP increased to...
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...
The Bangko Sentral ng Pilipinas’ (BSP) auction of BSP bills last Friday was 1.37 times oversubscribed and fully awarded by the central bank. BSP Deputy Governor Francisco G. Dakila Jr. said they offered and awarded in full P70 billion of 28-day BSP bills. “The weighted average interest...
