Opinion-Editorial NEWS

NIGHT OWL

The Bangko Sentral ng Pilipinas (BSP) is tightening its monetary penalty system on erring banks by imposing a maximum P1 million for each transactional violation or P100,000 per business day for continuing offense.

The Bangko Sentral ng Pilipinas (BSP) will stop accepting digital bank license applications by next week and will close the window for three years after limiting the number of digital banks in the country to just seven.

The adverse impact of the prolonged pandemic will be short-lived, the government’s chief economic manager and the central bank governor said after Fitch Ratings downgraded the Philippines’ outlook to negative.

As the Bangko Sentral ng Pilipinas (BSP) celebrates its 28th anniversary today, it is proud that it has become “greener” and has embraced the principles of sustainable development.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said efforts to continue to develop the domestic capital market have not been diminished by the COVID-19 pandemic.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno has assured clients of Union Bank of the Philippines (UnionBank) the bank’s systems glitch which left some funds “floating” will be resolved within the day, Saturday, June 12.

Financial conglomerates and domestic systemically important banks (D-SIBs) are more vulnerable to reputational risks such as negative publicity, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.

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.

The Bangko Sentral ng Pilipinas (BSP) is proposing to allow banks to set up their own satellite broadband similar to Bank Rakyat of Indonesia’s $250 million satellite for its digital or branchless operations.

The Bangko Sentral ng Pilipinas (BSP) issued a clarification Monday that there will be no grace period for loan payments during the seven-day enhanced community quarantine (ECQ) status while on Holy Week break.

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.

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 time.

The Bangko Sentral ng Pilipinas (BSP) has increased the number of national IDs it will print this year to 70 million from the previous target of 45 million, according to its highest-ranking official.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said Thursday that the inflation rate will reach its peak in the second quarter months of April to June and that so far, there is limited evidence of second-round effects.

Philippines’ foreign assets reached $109.082 billion as of end-February, higher than $108.673 billion in January, the Bangko Sentral ng Pilipinas (BSP) reported.

Foreign direct investments (FDI) last year dropped 24.6 percent to a net inflow of $6.542 billion from $8.671 billion in 2019, but it was more than the Bangko Sentral ng Pilipinas’ (BSP) $6-billion projection for 2020.

Local share prices rose on continued bargain hunting on the back of gains in the US bourses overnight.