BSP okays 2nd guidelines set for digital banks
THE Bangko Sentral ng Pilipinas (BSP) announced on Wednesday that it has approved the second set of guidelines for digital banks.
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Bianca Cuaresma
2664 posts
Bianca Cuaresma graduated cum laude from the University of Santo Tomas (UST) with a degree in AB Journalism. She joined the BusinessMirror after she graduated in 2013. In October 22018, she was named Banking Reporter of the Year by the Economic Journalists Association of the Philippines (EJAP).
BSP should hike again amid peso’s plunge, local economist says
BANK of the Philippine Islands (BPI) Lead Economist Emilio S. Neri Jr. said there is a possibility that monetary authorities will pull off another off-cycle rate hike before the year ends.
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BSP raises rates for 3rd month, now 4.25%
THE Bangko Sentral ng Pilipinas (BSP) hiked its rates for the third consecutive month on Thursday, in an effort to anchor the rise of consumer prices and inflation expectations.
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Lender adds sustainability
in plan to grow revenues
LOCAL commercial lender China Banking Corp. (China Bank) is seen to put its efforts more on sustainability as part of its overall strategy to achieve its business goals.
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BTr fully awards reissued 7-year T-bonds
THE Bureau of Treasury (BTr) announced on Tuesday that it has fully awarded reissued 7-year Treasury bonds (T-bonds).
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LandBank says donated ₧1.5M in financial aid to 13 quake-hit LGUs
STATE-run Land Bank of the Philippines announced on Tuesday that it has donated a total of P1.5 million worth of financial aid to local government units (LGU) in Northern Luzon affected by the earthquake earlier this year. The bank said extended donations of P200,000 for affected provinces and P100,000 each for municipalities. The donations are intended to support recovery efforts in the aftermath of the 7.0 earthquake that hit the region last July.
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Dollar-bleeding PHL’s August BOP gap hits $572 million
THE Philippine economy continued to bleed millions of dollars in August, data from the Bangko Sentral ng Pilipinas (BSP) showed.
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BTr rejects bids for 91-day, 364-day T-bills
THE Bureau of Treasury (BTr) has partially awarded treasury bills on Monday, as market players anticipate another rate hike from the US Federal Reserve.
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July remittances hit $2.9B, highest for 2022
FILIPINO migrant workers sent around $2.9 billion in cash remittances in July this year, the highest monthly remittance to the country for 2022, data from the Bangko Sentral ng Pilipinas (BSP) showed.
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Moody’s keeps PHL ratings at Baa2; outlook still stable
INTERNATIONAL credit watcher Moody’s Investors Service announced on Thursday that it affirmed the Philippines’s rating on the back of the country’s ongoing recovery amid turbulent times.
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BSP: Transactions via PESONet, InstaPay grew 43% in 7 months
THE Bangko Sentral ng Pilipinas (BSP) reported on Thursday that the value of transactions via the two main automated clearing houses grew 43 percent in the first seven months of the year.
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BSP: June FDI inflows plunge by 51.5% to $471 million
THE Bangko Sentral ng Pilipinas (BSP) reported on Monday that foreign direct investments (FDI) to the country declined by more than 50 percent in June this year.
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Treasury partially awards T-bills on mounting rates
THE Bureau of Treasury (BTr) has partially awarded Treasury bills (T-bills) on Monday, as rates continued to climb.
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BSP inks deal to solidify relations with Kyrgyz CB
THE Bangko Sentral ng Pilipinas (BSP) announced that it has inked a partnership with the National Bank of Kyrgyz Republic (NBKR) to strengthen bilateral relations.
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DBM allocates P2.5 billion for airport modernization
The Department of Budget and Management (DBM) said it has allocated a total of P2.5 billion to develop various airports nationwide.
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GIR falls to $99 billion in August, on 6th consecutive month of decline
THE country’s dollar reserves continued to fall in August, hitting the second consecutive month of a below $100-billion gross international reserves (GIR) level for the country for this year.
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HSBC preps for doubling of PHL multi-millionaires
THE local office of the Hong Kong Shanghai Banking Corp. Ltd. (HSBC) announced last Wednesday that it has launched a new wealth management business in the country, allowing locals to place their money in various investment vehicles via the foreign bank.
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DOF, BSP see inflation staying within range
THE country’s inflation is expected to peak in the third quarter before slowing down in the fourth quarter of this year, Finance Secretary Benjamin E. Diokno said on Tuesday, as the Bangko Sentral ng Pilipinas (BSP) signalled it will take further action to curb inflation, even after back-to-back hikes in recent months.
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BSP: Banks optimistic on growth of industry
THE Bangko Sentral ng Pilipinas (BSP) reported last Tuesday that the banking industry maintained a positive growth outlook amid lingering local and international challenges, its survey showed.
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Ex-Western Union exec named new Visa PHL chief
DIGITAL payments platform operator Visa Inc. announced last Monday the appointment of Jeffrey D. Navarro as its new Country Manager for the Philippines and Guam.
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‘Peso could still weaken on global devts’
THE local currency could still weaken in the coming days as local and international developments could play to the strength of the dollar.
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Jobs growth fastest since 2017 for manufacturing
THE local manufacturing sector recorded an improved performance in August this year, particularly on the rate of hiring for new employment in the sector.
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BSP to deploy tech tool for BSFIs’ cyber strength
THE Bangko Sentral ng Pilipinas (BSP) announced it is pushing for industry-wide initiatives to enhance the so-called “cyber resilience” of players in the local financial system.
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BSP projects August inflation at 5.9-6.7%
The BSP said inflation for August was driven by the continued increase in key food prices. This could, however, be offset in part by the decline in global oil prices, the reduction in electricity rates, lower meat and fish prices, and appreciation of the peso.
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BSP reports 12% growth in bank lending in July
The BSP said the sustained growth in bank lending and liquidity will support the recovery of economic activity and domestic demand.
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BSP, PPMI to roll out more digital-payments initiatives
IN an effort to further advance digitization in the country, the Bangko Sentral ng Pilipinas (BSP) said it is currently working with the Philippines Payments Management Inc. (PPMI) to roll out more digital payments initiatives in the country.
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Hot money in net outflow territory of $103 million in July
SHORT-TERM investments made by foreign investors hit the net outflow territory for the third consecutive month in July, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.
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BSP OKs full operation
of 6 licensed digibanks
THE Bangko Sentral ng Pilipinas (BSP) announced last Wednesday that all six licensed digital banks in the Philippines may now pursue full operations, after the regulator issued to each of the two remaining digital banks a Certificate of Authority to Operate.
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Opening account requires aegis vs scams–survey
FILIPINO financial consumers are growing wary of cybercrime among banks and other online accounts, as a recent survey showed that 2 out of 5 Filipinos consider scam protection as a main consideration in opening an online financial account.
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BSP poll: Private economists see 5.4% inflation in 2022
PRIVATE economists see inflation averaging at 5.4 percent in 2022, parallel with the Bangko Sentral ng Pilipinas’ (BSP) latest forecast on consumer price growth for the year.
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