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TDF yields hit fresh high

YIELDS fetched for term deposits surged to a fresh high yesterday even as demand cooled from a week ago, with players again crowding the seven-day papers at a time of market uncertainty.

Rediscount loans climb in September

REDISCOUNT LOANS availed by banks surged in September at a time of tighter money supply, which came ahead of another rate hike from the Bangko Sentral ng Pilipinas (BSP).

Espenilla gets B+ in central banker report card

BANGKO SENTRAL ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. got the third-highest rating for his first year as central bank chief, with the Global Finance magazine touting sustained economic growth while noting the weaker peso and a wider trade gap as setbacks.

Big banks fail to meet required MSME lending

BIG BANKS remained stingy in providing loans to small firms as they continued to miss the mandated credit quotas provided by law, latest data from the Bangko Sentral ng Pilipinas (BSP) showed.

Demand for term deposits surges

BANKS scrambled to get hold of term deposits offered by the Bangko Sentral ng Pilipinas (BSP) yesterday, with the auction marked by overwhelming bids as the central bank accepted higher yields following a strong rate hike last week.

BSP sees Sept inflation at 6.8%

THE BANGKO Sentral ng Pilipinas (BSP) expects inflation to have further accelerated in September, due to higher oil and food prices, it said in a statement on Friday.

Money supply, bank lending growth slow in Aug

GROWTH in both money supply and bank lending slowed down in August, the Bangko Sentral ng Pilipinas (BSP) said on Friday.

House Islamic banking bill clears committee

A BILL authorizing the Bangko Sentral ng Pilipinas (BSP) to regulate Islamic Banks cleared two House committees, putting the country on track to harmonize rules for the banking segment with oher countries in the region.

Term deposit yields surge to all-time high

YIELDS under the term deposit facility (TDF) surged to all-time highs yesterday, with strong demand seen for the week-long papers as banks avoided long placements ahead of an expected rate hike from the central bank.

NPL growth rises 8% in July after banks’ loan book expands...

BAD debt held by big banks grew further in July but remained subdued relative to the over 18% pace of loan growth, the central bank said.

BSP looking to bring PERA online as appetite stays low

THE CENTRAL BANK is eyeing to set up an online marketplace for the personal equity and retirement account (PERA), in a bid to attract more investments for the two-year-old savings scheme.

Combatting bank scams and frauds

Scams and frauds remain a serious threat to financial institutions and consumers, especially these days when fraudsters are becoming more sophisticated as the technologies...

Tricky schemes to watch out for

In the rising tide of the Philippine economy, many ships have received bounty. Amid the flood of foreign investors and new businesses into the...

BSP income up in July

THE CENTRAL BANK saw its net income surge anew in July, raking in huge gains from foreign currency trading at a time of a weaker peso.

BSP studying new tool to curb speculative FX trades

THE BANGKO SENTRAL ng Pilipinas (BSP) is readying a new measure that would ward off speculative players in the foreign exchange (FX) market, as the regulator searches for new ways to quell sharp swings in the daily peso-dollar trading.

First-half current account gap shows more pressure in store for the...

THE COUNTRY’S current account balance reversed to a deficit in the second quarter, largely under the weight of a growing merchandise trade gap, making the first-semester shortfall hit the Bangko Sentral ng Pilipinas’ (BSP) full-year forecast and signalling more pressure ahead on an already beleaguered peso.

Foreign debt down 0.4% at end-June

OUTSTANDING foreign debt declined at the end of June as companies and the national government paid down their obligations, the Bangko Sentral ng Pilipinas (BSP) said.

Hot money net inflow surges in Aug. — BSP

MORE FOREIGN FUNDS entered the Philippines in August to mark a four-month high, with hawkish cues from the Bangko Sentral ng Pilipinas (BSP) perking up investor appetite.

Tight liquidity due to lending, dollar demand leads to TDF offer...

THE CENTRAL BANK decided to reduce offerings under the term deposit facility (TDF) amid robust lending and higher dollar demand, reflecting tighter liquidity in the market.

Yields on BSP’s term deposits climb as demand drops further

TERM DEPOSITS saw tepid demand yesterday to mark a second straight week of settling below offer, while yields maintained their ascent across all tenors.

Online, interbank fund transfers mandatory by end-Nov.

ALL BANKS and other financial firms should be offering online fund transfer services by end-November, as the Bangko Sentral ng Pilipinas (BSP) flexes its muscle for more players to broaden their digital presence.

BSP hoping to push financial literacy in K-12 curriculum

THE Bangko Sentral ng Pilipinas (BSP) said it is working with the Department of Education (DepEd) to incorporate financial literacy in the K-12 curriculum as a means to increase financial inclusion.

Global banks expect more BSP rate hikes until 2019

THE BANGKO SENTRAL ng Pilipinas (BSP) may opt to raise rates several times until 2019 to make local yields competitive, two global banks said, noting that such moves would also boost the peso and help arrest surging inflation.

Rediscount borrowings reach P9.41B in August

BANKS SCRAMBLED to get hold of rediscount loans from the Bangko Sentral ng Pilipinas (BSP) in August to hit nearly P10 billion at a time of rising interest rates.

BSP likely to raise rates by another 50 bps

THE CENTRAL BANK will likely raise interest rates by another 50 basis points (bps) in the coming weeks following faster-than-expected August inflation, a global research firm said, even as price pressures due to oil and food products are seen to ease.

Outlook for rural banks positive

RURAL BANKS remain strong and profitable this year despite the closure of several players, the Bangko Sentral ng Pilipinas (BSP) said, with lenders actively looking to tap digital solutions to expand their operations.

BSP to set up CSF in Dinagat Islands

THE BANGKO SENTRAL ng Pilipinas (BSP) will open a new credit facility in Dinagat Islands this week, which is expected to help small businesses gain access to bank financing.

BSP warns currency speculators, re-actives CRRP

THE Bangko Sentral ng Pilipinas (BSP) on Friday warned currency speculators, saying it will “take all actions necessary to deal with speculative activity by market participants,” as the peso hit its lowest level against the US dollar in more than 12 years.

Consumers turn pessimistic for Q3 — BSP

FILIPINO CONSUMERS turned pessimistic on the outlook of the economy in the third quarter as they expect commodity prices to continue to rise in the near term, according to the Bangko Sentral ng Pilipinas (BSP).

Gross international reserves climb in August

THE COUNTRY’S gross international reserves (GIR) grew in August on the back of net foreign currency deposits of the government and income from the central bank’s external investments, the Bangko Sentral ng Pilipinas (BSP) said on Friday.

Smaller banks ask for more time to build up buffers for...

THE Chamber of Thrift Banks (CTB) urged the Bangko Sentral ng Pilipinas (BSP) to push back the implementation of new liquidity requirements by a year as smaller lenders need more time to build up their capital, a top official said.

PHL economy seen to withstand further tightening

THE ECONOMY can withstand further policy tightening from the Bangko Sentral ng Pilipinas (BSP), even as it fired off its strongest response in a decade last month, according to the minutes of the Monetary Board meeting.

Credit Suisse expects BSP to raise rates by 50 base points

Financial services firm Credit Suisse said the local central bank needs to hike its interest rates by 50 basis points (bp) to dampen inflation...

August inflation fastest in nearly a decade

HEADLINE INFLATION in August caught state economic managers and financial markets by surprise, shooting up to its fastest clip in almost a decade, according to official data the Philippine Statistics Authority (PSA) released on Wednesday.

BSP can hold fire on rates even as inflation peaks

THE Bangko Sentral ng Pilipinas (BSP) has sufficient leeway to hold fire on policy rates this month even with higher inflation in August, a bank analyst said.

Central bank flags even faster August inflation

THE OVERALL INCREASE in prices of widely used goods likely clock in around 5.9% in August — marking a fresh multiyear high — the Bangko Sentral ng Pilipinas (BSP) said in a statement on Friday, noting that food and utility costs maintained their ascent.

Money supply growth slows in July

GROWTH of money supply eased to its slowest pace in nearly three years in July amid smaller reserves held by the Bangko Sentral ng Pilipinas (BSP), even as bank lending accelerated in the same month.

BSP beefs up cybersecurity safeguards

THE BANGKO SENTRAL ng Pilipinas (BSP) will soon require banks to promptly report cybersecurity breaches, as the regulator tightens its watch on digital platforms.

BSP seen needing two more rate hikes in 2018

THE CENTRAL BANK will need at least two more rate hikes this year to keep local yields competitive and address inflation concerns “nervousness” in the global markets, a Danish international banker said.

TDF yields climb after central bank’s rate hike

YIELDS FETCHED for term deposits moved higher this week, in line with the central bank’s expectations, following an aggressive rate hike which took effect early this month.

Thrift banks’ NPLs up at end-June

SOURED DEBTS held by thrift banks continued to climb in June to take a bigger share in loans for retail borrowers, latest central bank data showed.

Central bank sets Sept. 30 deadline for foreign borrowing plans

THE BANGKO SENTRAL ng Pilipinas (BSP) has given the government and businesses until next month to submit their offshore borrowing plans for 2019.

Deadline for submitting foreign borrowings plan set for next month —...

The Bangko Sentral ng Pilipinas (BSP) has given the government as well as private firms until next month to submit their offshore borrowing plans...

Expectations of another interest rate hike mount

A FOURTH successive tightening move may be announced by the central bank next month, a global bank said, as it sees inflation topping six percent until September.

Fixed exchange rate ‘dangerous’ for PHL economy, BSP chief says

THE BANGKO SENTRAL ng Pilipinas (BSP) will not opt to set a fixed exchange rate for the peso, with its chief calling it a “dangerous” move for the economy.